by Michael Dowling
I’m a big believer of closing off a year before beginning the new one. 2016 ended just the way it started from a real estate perspective, in that the market was hot in our local area. Generally, December is a relatively slow month for sales, however, December 2016 was definitely one to remember. Some of the results were amazing on their own, which I’ll go over shortly however, individually my team sold 13 properties in December which included 3 selling off market prior to being launched this year.
In December, 101 Bowden St, Ryde was sold by McGrath for a residential sale record in Ryde at $3,800,000. This final price was an astonishing $1,000,000 over the reserve at auction! For this result to occur in December really showcases the high demand for the Ryde area in the current property market.
2017… What has this year got in store for you? What is your New Year’s resolution?
This year will start off with a bang as well on the real estate front as we are already showing people through properties that are off market and have 7 properties preparing to go to auction in February. From what buyers are discussing with us at present, the only negativity around buying is the possibility of interest rate rises and, as we already know if the supply levels rise in Ryde then buyers will also have more properties to choose from, and in turn may possibility slow down the local market.
Aside from this, it does look like it’s going to be a great year to capitalise on your real estate situation and if one of your resolutions involves something to do with your property, whether it be renovating or moving, feel free to contact me as I’d love to be able to help where I can.
Best wishes for a great year ahead!
Michael and the Team.