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Market Buy’s ‘State Of The Market’ report has revealed the extent to which the real estate market is rebounding
The biggest issue agents are reporting so far in 2021, is that listings are thin on the ground in the current market. Buyers are often so eager; they’re insisting that they be notified of any potential new listing before it is uploaded to online portals and social media.
An early preview of Market Buy’s ‘State Of The Market’ report has revealed that buyer numbers are up nearly 120% on 2019, while the number of offers being made per property has increased 203% on the platform.
“Queensland is leading the way with an average of 26 offers per property from 10 different buyers so far in 2021,” Founder & CEO David Stewart says.
With stats released by the Queensland Treasurers department earlier in the month showing a huge migration north from Sydney and Melbourne, it’s not surprising that Queenslanders are enjoying a surge in activity.
But the southern states are not to be outdone, with both NSW and Victoria seeing a 66% and 60% (respectively) increase in the number of buyers per sale on the Market Buy platform.
In the West, a resurgence is also on the cards after long years of real estate hard slog – properties are selling for an average $48,645 more than the first offer received as an average of 9.7 buyers battle for each property.
“It’s fantastic to see the market rebound after all the uncertainty of 2020, “ David Stewart says, “we’re now seeing more properties sell online than ever before and buyers and sellers are loving the process.”
“It’s a moving target of course, as the year is still so young, but already we’ve seen a 291% increase in property completions on Market Buy compared to 2019,” he said.
One of the key take-aways from the report, is the speed and efficiency with which agents are now able to negotiate and get a sale done.
Recent addition to the Market Buy platform Roxanne Workman from Remax Ignite & Remax Profile Real Estate in Queensland, joined the platform last Friday, had a sale up Saturday morning and had received no fewer than 27 offers for her seller by Sunday evening.
“I was able to sit back and watch the buyers do the work,” Roxanne said. “It saved hours of drawing up contracts of which only one would be accepted.”
Roxanne was thrilled with how the sale playedout, "It was transparent to both buyers and sellers," she said and her sellers were equally thrilled with the process.
“Our sellers loved the process and were quite excited watching it all play out in real time.”