Weekly Market Snapshot – Week ending 23rd September 2018
Listings data – Properties Currently for Sale
Our weekly listings data tracks the number of properties that have been advertised for sale across the capital city markets over the last 28 days. A new listing is one which has not been advertised for sale over the past 6 months, while total listings are based on any property that has been advertised for sale over the last 28 days; including new and previously advertised sales. The collection and reporting of the volume of properties advertised for sale is a timely indicator to understand supply within a given market.
Capital City Properties Listed for Sale
Median Time on Market
‘Time on market’ (TOM) is simply the median or middle number of days it has taken to sell a property within the given market, using the first listed for sale date and the contract date of all properties that have sold by private treaty over the most recent four week period. A high time on market figure may indicate a weaker market where there is less demand and high supply, while a low figure can indicate a higher performing market, with greater demand and lower availability of stock on the market.
Capital City Median Time on Market
Average Vendor Discounting
The rate of vendor discounting is the average percentage difference between the original listing price and the final selling price. The statistics are calculated across results received over the past week and include properties transacted over the past four weeks. Observations of this data suggest vendors are likely to offer greater discounts in a softer or slowing market in attempts to secure a sale, while a market that is performing well will see much lower discounts offered as buyers are more active and competitive.
The data is based on private treaty sales only and records without a valid sale price have been excluded from the vendor discount analysis. The analysis also excludes results where there are less than 10 observations.
Capital City Vendor Discounting
Median Price & Number Sold
Median price data is essentially the middle price of all those properties sold by private treaty over the most recent four week period. Private treaty sales represent around 85% of all dwelling sales across the country. Records without a valid sale price have been excluded from the analysis.