Statistics compiled by the Real Estate Institute of Victoria show that properties in regional Victoria are experiencing their shortest times on the market since 2010.The median days on market was quoted as 35. Standard auction campaigns run for 4 weeks and the bulk of our auction properties sell on the day with plenty of competition from buyers, particularly in the first home buyer price bracket. Our private sale properties are selling even more quickly, particularly in those periods immediately after a lockdown where listings and inspections have been paused, leading to a flurry of activity.
Just a reminder that we are only permitted to conduct private inspections for the time being, and only for buyers in regional Victoria. We are required to ask for ID at all inspections. For Melbourne buyers or anyone unable to inspect in person, please feel free to contact the relevant sales agent who would be happy to conduct a virtual walk through via zoom or similar platform.
Enjoy your weekend and take care.
Until next week,
Nick Lord (Director)