Houses in Greenfields sold faster than any other Perth suburb last month.
According to the Real Estate Institute of WA (REIWA), properties in the Mandurah suburb were snapped up in a median of five days in March.
While houses in Cooloongup, Port Kennedy and Waikiki sold in six days.
“March is usually a strong month for sales and, despite 10 consecutive interest rate rises, 2023 was no exception with properties changing hands very quickly,” REIWA CEO Cath Hart said.
“Buyer interest remains high, with good attendance at home opens and many properties receiving multiple offers – some even before an inspection.
“And sales figures exceeded 1,000 two different weeks in March. They have only done this three times so far this year.”
Speedy sales weren't limited to the above suburbs, with the median time on market for the whole of Perth just 13 days.
“The fastest median time to sell in the past 23 years was 12 days in March 2021,” Ms Hart said.
“Including March 2023, there have only been four months that recorded a median of 13 days, so it’s a very active market at the moment.
“Well-presented and well-priced properties continue to attract a lot of interest.
“Potential buyers should make sure they have their finances in order so they are ready to make an offer when they see a property they like.
“I’d also recommend signing up for property alerts on reiwa.com so they don’t miss new listings, and registering their interest with local agents. There are properties that don’t officially come to market, sometimes known as silent listings, where agents contact potential buyers on their database rather than advertise.”
Ms Hart said buyers may have more time to make a purchase in April, when days on market traditionally increase due to the number of public holidays and school holidays.
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