Market update SUMMER 2024/25 Courtesy of James Levy Ray White Upper North Shore
Reflecting on 2024 and setting the stage for 2025 As we step into 2025, Sydney’s real estate market finds itself navigating a dynamic period of recalibration and opportunity. The spring selling season of 2024, traditionally a peak time for selling, proved challenging, with national sales volumes sitting at 4% below the five-year average. Sydney stood out as a key underperformer, with sales volumes dropping 15.1% below historical trends, according to CoreLogic. Increased stock levels and cautious buyer sentiment extended median selling times to 32 days, up from 27 days in 2023. Yet, there were moments of resilience. The national median dwelling price reached an historic high of $800,000 in November, per REB, underscoring the ongoing demand for housing despite affordability pressures. On the rental side, the once-rapid growth tempered to an annual increase of 5.3%, the slowest pace since April 2021, reflecting shifting household dynamics and stretched affordability. Looking ahead, the outcome for 2025 is largely dependent on the outcome of potential interest rate reductions. The materialising of the anticipated decrease in interest rates, would offer some relief to buyers and further positivity in the market. As the year unfolds, Sydney’s real estate market is poised for a blend of challenges and opportunities, providing a promising backdrop for buyers, sellers, and investors ready to navigate this new landscape. James Levy 0414 474 868 james.levy@raywhite.com WELCOME TO YOUR LOCAL MARKET UPDATE
FAST FACTS ST IVES Source: Pricefinder 2024 1. HOUSES UNITS Q4 2024 Q4 2023 Q4 2024 Q4 2023 ST IVES 90 74 36 37 NUMBER OF SALES 2. MEDIAN SALE PRICE HOUSES UNITS Q4 2024 Q4 2023 Q4 2024 Q4 2023 ST IVES $3,020,000 $2,915,000 $1,249,000 $923,000 3. AVERAGE SALE PRICE HOUSES UNITS Q4 2024 Q4 2023 Q4 2024 Q4 2023 ST IVES $3,234,830 $3,059,649 $1,522,181 $1,168,649 4. HIGHEST SALE PRICE HOUSES UNITS Q4 2024 Q4 2023 Q4 2024 Q4 2023 ST IVES $6,342,800 $7,100,000 $3,800,000 $2,675,000 ST IVES 67.9% 5. AUCTION CLEARANCE RATE (LAST 6 MONTHS)
HIGHLIGHT SALES BY JAMES LEVY 26 Oxley Avenue, St Ives 95 Collins Road, St Ives 85 Eastern Arterial Road, St Ives 46 Dorset Drive, St Ives 49 Carbeen Avenue, St Ives 51 Melaleuca Drive, St Ives 28 Burdekin Crescent, St Ives 10 College Crescent, St Ives SOLD AT AUCTION SOLD AT AUCTION SOLD PRIOR TO AUCTION SOLD SOLD PRIOR TO AUCTION SOLD AT AUCTION SOLD SOLD 6 3.5 3 4 2 3 4 2 2 5 2 1 4 3.5 2 4 3 2 4 3 2 4 2 2
WHY SELL WITH RAY WHITE UPPER NORTH SHORE? WHY SELL WITH RAY WHITE UPPER NORTH SHORE? Sales Volume Ray White Compeঞtor 1 Compeঞtor 2 Compeঞtor 3 Compeঞtor 4 0 200 400 600 800 Sales Value Ray White Compeঞtor 1 Compeঞtor 2 Compeঞtor 3 Compeঞtor 4 $0 $500,000,000 $1,000,000,000 $1,500,000,000 $2,000,000,000 Source: CoreLogic Market Scorecard FY24 Ray White Upper North Shore sets the standard by selling more properties than any other agency across the Upper North Shore. This extensive track record enables us to connect with more potential purchasers than anyone else, ensuring unmatched exposure for your property. Our comprehensive marketing strategies are proven to give you an advantage when selling your home. VIEWS ENGAGEMENT ENQUIRIES SAVES & SHARES 1,348 1,016 906 675 18 13 54 36 RAY WHITE UPPER NORTH SHORE MARKET AVERAGE Source: Domain published listings FY24
Roseville 39 Hill Street Wahroonga 18 Railway Avenue St Ives 237 Mona Vale Road Hornsby 45-47 Hunter Street Pennant Hills 1 Hillcrest Road Ray White Upper North Shore Head Office: 2 Turramurra Avenue, Turramurra raywhiteuppernorthshore.com.au Extremely knowledgeable, highly recommend “James recently sold our home and we could not recommend him more. From the very beginning his calm and extremely knowledgeable approach set us at ease during what would normally be a very stressful time. He provided thorough and discerning updates throughout the process and was always very respectful of our thoughts and opinions. His sales assistant Alison was amazing, a testament to the ethos James clearly lives by and strives to create in his team. Genuine, hard working, trustworthy and kind.” VENDOR - L & L, ST IVES Unquestionable expertise “Selling your house is a far more complex exercise than you expect. From getting the house ready for open houses to getting contracts exchanged requires the assistance of someone who you can trust both as to competence and integrity. James is such a person. He gave excellent advice on staging our home and getting it ready for sale quickly. His expertise in the St Ives market is unquestionable. We let him run the whole process for us and everything worked out exactly as he planned.” VENDOR - J & D, ST IVES An extensive understanding of the market “James arrived at our house neatly dressed and armed with the latest updates of the market details in our area. He clearly advised us on the auction procedure and suggested the best time to enter the market. During the open home inspections, James followed up promptly on the number of people inspecting and their general comments. He also achieved above reserve price at the auction. Thank you James for a great result for us.” VENDOR - J & K - ST IVES A WORD FROM MY CLIENTS James Levy 0414 474 868 james.levy@raywhite.com
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