WHAT’S HAPPENING IN OUR MARKET? A relatively warm winter has come and gone and we now transition into a buoyant spring selling season. Speculation continues around possible rate increases or decreases with the common opinion being a slight decrease to occur in early 2025! This is creating some stability in the marketplace for both buyers and sellers. Throughout winter, there were 48 residential sales across three months. The averaging selling time has increased from under two months to 71 days. This metric is vital to understand that the longer properties sit on the market the less likely they are to achieve the true premium value. Collectively, Ray White Colac successfully sold 19 residential properties across three months with a total value price in excess of $10,000,000. In addition, we are excited to represent Colac’s newest quality residential development, with 21 residential blocks now available for purchase! Spring throughout the Colac District is likely to be steady - aligned with buyer demand. Competition will be high for homes that have a clear point of difference in their marketing and strategy. - Fergus Torpy and Toby Kent
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