This property market update will provide insight into the local house market in North Kellyville NSW 2155 for October 2021 during the easing of the Covid-19 lockdown.
The number of houses sold (indication for the supply).
In October 2021, there were 30 houses sold in North Kellyville. This number is more than the average number of houses sold in October within the past three years, where 24 homes sold. For comparison, in September 2021, 23 houses were sold in North Kellyville, indicating a supply trend is increasing with a number lower than the three-year average.
Fifteen of the properties sold were 4-bedroom houses (50%), fourteen were at least 5-bedroom houses (46.7%) and one was 3-bedroom houses (3.3%).
Property selling methods: auction vs private treaty.
Eleven houses were sold through auction (36.7%), while the other twenty were sold through private treaty / by negotiation (63.3%). North Kellyville auction clearance rate for October was 84.61%.
For comparison, in 2021: 56.97% of properties were sold by private treaty, and 43.03% were by auction. The North Kellyville auction clearance rate for 2021 is 79.23%.
➞ Related: Choosing auction vs private treaty.
Average days on the market (indication for the demand)
In October 2021, the average days on the market for all properties were 35 days, five days quicker to sell than the average in 2021, which indicates a higher buyer demand or competition.
A three-bedroom house is the most popular with buyers as it takes the shortest time to sell on the market with 22 days, followed by a four-bedroom (average of 32 days) and a five-bedroom house (average of 39 days).
This trend of more bedrooms takes an average longer time on the market, consistent with all the houses sold in 2021. In 2021, a three-bedroom home takes the shortest time on the market (average of 15 days), followed by a four-bedroom house (average of 39 days) and a five-bedroom house (average of 43 days).
Median sold prices.
The median price for all houses was $1,550,000 (42.26% increase from the October 2020 median price of $1,089,500 and a similar median price compared to last month).
There was only one three-bedroom house sold for $1,345,000 (lower than last month sold price of $1,500,000 but higher than the 2021 median of $1,315,000).
The median for a four-bedroom house was $1,402,000 (lower than last month median of $1,425,000 but higher than the 2021 median of $1,350,000).
The median for a five-bedroom house sold was $1,936,500 (lower than last month median of $1,751,000 and higher than the 2021 median of $1,620,000).
The Highest Sold Prices.
The highest price sold in October 2021 for North Kellyville was $2,500,000.
A three-bedroom house was sold for $1,345,000.
The highest price sold for a four-bedroom house was $1,925,000.
The highest price sold for a five-bedroom house was $2,500,000.
Conclusion.
In summary, the North Kellyville property market in October 2021, aided by the ease of Covid-19 lockdown, continues strong but show a trend of stabilising compared with the previous month. The property market showed high median prices, short time on the market, and high auction clearance rate, all realised despite the increase of property supply available on the market. Based on time on the market, a three-bedroom house take the quickest to sell, followed by a four-bedroom house and a five-bedroom house. October median selling price was similar to median price from September, indicating the stabilising of the selling price.
It's important to stay updated with your local property market, so if you want to know the value of your property in this current market, you can start with free property appraisal for North Kellyville. You can also read the answers to the most asked question by house sellers about selling a house in North Kellyville.
Irving Gunawan | Ray White Kellyville
📞 0468 956 677
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