We have buyers
The real estate market in Mareeba is busy right now, so much so that the increased buyer enquiries means properties are receiving offers very quickly.
We have buyers who are cashed up, ready to go and there is a shortage of properties for sale in our region. “Our conversation with vendors is completely different to what it was six months ago,” says director Remo Esposito.
“Today when we approach a potential seller we already have a buyer in mind,” he said.
The activity in the regional areas nationally is on the increase. The Mareeba real estate market is no different.
Buyers are waiting in the wings for the right property to hit the market and as soon as it does, offers are made. It’s a virtual queue of people on our waiting lists who are looking to purchase here, but we don’t have enough properties to show them.
Why is there a shortage?
“It’s not necessarily that we have less homes to sell. We just have more buyers interested, the demand is higher.” said Esposito.
What is causing this increase in activity?
According to the leading property market online portals – such as www.realestate.com.au and www.domain.com.au – the increase activity is about:
- COVID-19 has changed everything in property. The family home isn’t big enough any more, particularly if you have to live and work in the same space. Room for an office, a quiet zone for virtual meetings etc. is encouraging families to upsize.
- The commute to work is less of an issue as more and more people are working from home, either full time or part time.
- The hustle and bustle of inner city living has become less attractive to some and the regions are becoming very popular.
- Interstate migration is on the rise. A Federal Budget Strategy and Outlook for 2020/2021 shows Queensland migration of more than 21,000 residents is expected to hold for the next 4 years.
- Low mortgage rates.
- The FOMO effect. Apparently the Fear Of Missing Out (in property) is a real issue. The property check list of “must haves” has gone out the window. Instead buyers are opting for what they can get right now.
Is now the right time to sell?
A “hot” property market for sellers usually means there are more buyers than properties available and right now the Mareeba market is hot. A recent survey released by review portal RateMyAgent reports an overall growth in seller price satisfaction of 63%. That’s an increase of 18% from a year ago. With so much activity in the market, our buyers are doing less negotiations and putting an offer in that’s close to the asking price.
If you’ve been thinking about selling but unsure what action to take next, it all just starts with a conversation you should be in the market now! Give us a call and come have a property chat today.
There’s no obligation, no pressure – just a conversation and a market update. If you have all the information you need, you can easily make the right decision for you and your family.
Call today and book a private consultation.
Seller Satisfaction Source: RateMyAgent
