And as we now approach summer, our listings remain in a similar position. Brissie buyers are enjoying more choice than last year, but we’re still below pre-pandemic stock levels.
In October new listings were up 5.3 per cent month-on-month, according to the latest PropTrack data reported on realestate.com.au.
This is 7.4 per cent lower than the same time last year. However, the total number of all properties listed for sale increased by 2.5 per cent month-on-month.
This pushes Brisbane’s total property listings up 14.8 per cent higher than last year. That’s a big increase.
This is good news for buyers who are enjoying a little more choice and a little less pace compared to the frenzy we’ve experienced in recent years.
So is our market getting back to normal?
Well, it depends what you mean by normal.
We’ve seen a period of rapid, record growth and we’re now seeing prices lower as the market moderates and buyers adjust to interest rate rises. Most commentators expect price falls to flatten as rate rises slow.
But our stock levels are still down roughly a quarter on pre-pandemic levels.
So we’ve reached a new and different phase in the Brissie market, which has some buyer upsides, while sellers are still enjoying sale prices above pre-pandemic levels.
Wanting to serve up some more choice for buyers? Book a valuation or talk to us about selling.
Ready to take a look at the homes-for-sale smorgasbord? View our current listings for sale.