We all know that when stock levels in the market are low, that it usually means that buyer demand becomes stronger as they fight for what’s left in the market. In fact, many buyers become desperate for stock and they start to compromise on what they want.
Often it may be that they start looking outside of the suburbs they ideally wanted, or they start to consider doing more renovation to a home that they originally thought they would like to avoid, or they even start considering increasing their budget on a home because securing a home becomes their number one priority.
In saying that, I usually see a 5 – 10% increase paid on homes because of the low supply. So, for the average home in North Caringbah – we are talking about $80,000 – $130,000 more than what it may normally be worth.
With less than 5 homes for sale in North Caringbah, the timing is perfect for a great price. Call the North Caringbah specialist, if you want to take advantage of this time in the market.