Knowing how to tell whether the market in Campbelltown is starting to change – whether it’s trending up or down – can help purchasers determine how to go about their property search.
If the market in Campbelltown is getting weaker, then they have more time to buy without seeing prices getting away from them. When it’s getting stronger, many wish they had tried to make up their minds sooner to avoid missing out or paying more. So what are the signs of a market on the move?
If the market is trending up (i.e prices are likely to rise), watch for:
- Properties have been on the market for a long time are selling.
- Increased attendance at Open Houses.
- Increased bidding at Auctions.
- When you ring an agent about a property, you find they are already sold or if you ring back to make an offer you find that someone else has got there first.
- Properties which require a lot of work are selling
- Sales at auction go above the reserve set by the vendors.
Conversely, purchasers can take their time if the following signs of a market slowdown leading to lower prices are occurring. Watch for:
- Little interest at Open Houses
- Many of the properties for sale have been on the market for a long time
- Auctions have no buzz and bidding seems to proceed very slowly
- Auction prices falling below reserves set by vendors
- More properties passed in at Auction
- Properties selling before Auction