Analysis of median house prices for Greater Geelong over the past few years indicate a levelling off over the course of 2023 after a period of re-adjustment following the covid years that saw unprecedented gains across the market.
The median house price in Greater Geelong at the end of 2019 was $567,750 and the years since recorded the following – $620,000 (Dec 20), $765,000 (Dec 21 – the biggest increase), $730,000 (Dec 22) and $730,000 (Dec 23). (Source PropTrack).
Averaging these figures out the increase in median price between the end of 2019 and 2023 is 28% reflecting normal Geelong trends which we expect to resume this year and beyond (recording 5-7% annual increases).
Our agents are reporting much more activity at open houses and more requests for private inspections which bodes well for a busy and successful 2024. If we can assist you this year with a sale or a purchase, we would be very happy to take your call.
