Sold properties increased in November across the Newcastle, Maitland and Port Stephens LGAs by 6%, 15% and 25% respectively (Newcastle: 278, Maitland: 166, Port Stephens: 128). This was expected after the boom in new listings in October at the height of the Spring Selling Season.
The Lake Macquarie LGA reported a slight drop in sales by 5% with 284 properties sold in November. Their median sales price however, bumped up from $876K in October to $900K in November (up 2.7%). Lake Mac also saw a significant drop in days on market with an average of 33 in November, down from 40 in October.
The Port Stephens LGA enjoyed a median sales price bump too, from $813K to $851K (up 4.7%). (Although it’s also the smallest LGA for population and housing so figures are more likely to fluctuate).
As expected, new listings have decreased across all four LGAs in November and will continue to taper off into December as we all settle into the holiday season.
From all of us here at Green St, we wish you and your families a very merry Christmas and a happy New Year. We’re looking forward to a summer break of sun and surf, and family feasts.
*Data sourced from REA Group (who own realestate.com.au)