Balgownie Market Update 28 March 2019


Hi guys, it’s Sarah Ward here with your weekly Balgownie update.

Now I have got a little bit to talk about today. There has been a few new properties come on to the market in Balgownie. The first one is a 3-bedroom duplex at 1/43 Balmoral Street, there is no price on that one, it is contact agent, but it is one of the new ones up on top of the hill behind the pub.

38 Lang Street, 3-bedroom home, is now on the market for $929,000. And I’m not sure if Iv’ve told you about the one at 156 Brokers Road, also a 3-bedroom home and that is on the market for $840,000-$890,000.

So couple of other little bits of movements that I have noticed. The villa at 3/74-76 Balmoral Street was under contract but it is now back on the market. So we are seeing a little bit of issue at finance at times the banks are definitely making it a little bit harder for people, so we are seeing some people offer on a property and not being able to secure the finance. So it is important that you have your preapprovals in place if you are out there searching for a home. The other one that I had noticed go into contract this week is 76 Duncan Street.

There have been no sales once again in Balgownie and I’m a little bit concerned about this because we do have a lot of property on the market, overall in the Balgownie area. At the moment there are 9 townhouses, 4 villas, 15 houses and one big block of land on the market of Balgownie. So that’s a lot of property and for no sales to be taking place, I’m a little bit concerned, we’ve got to work harder as agents to get these things done for people and in a timely fashion. I’m currently seeing the average days on market for a 3-bedroom home in Balgownie at 62 days, now this is not ideal. We like to maintain an average days on market in our office at around 25-30 days. We are seeing that stretched out at the moment to sometimes up to 40 days on market to get a home sold, but 62 days really is a lot more of time. We want to see people having to have opens and having too wary about being on the market.

So if you are looking for an agency that does really work on getting the job done quicker for you, please let us know. In our office this month, we’ve had 6 sales take place, we have still got a couple of days left, so we’ll see if we can get anymore across the line. But. We are very productive in trying to get the job done and getting you guys moving on to the next chapter.

Very interesting time out there, if you do need any advice at all, please feel free to give me a call 0400 439 602, and I can walk you through what’s happening out there, specifically in your location and what’s the best way for you to market your home as things do continue to change over the coming months and weeks. Bye for now.

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