Over the last 4 to 5 weeks, one thing has been consistent: buyers keep telling us they're going to "wait for the market to come down."
But here's the reality...
The market isn't showing signs of a significant drop.
July delivered 8 sales and 8 new listings for us. And we're already off to a strong start in August with 4 sales on the board. Are we seeing the unbelievable, pre-budget prices? No. But we're still achieving healthy prices and getting properties sold.
According to REIWA, Perth recorded 762 sales last week:
- 570 houses
- 122 units
- 70 land sales
At the same time, there are only 6,852 properties currently for sale across Perth:
- 4,707 houses
- 1,562 units
- 583 blocks of land
The average sale price across Perth is sitting around $950,000, with two-bedroom homes averaging $900,000.
What's even more interesting is that sales transactions increased by 3.8% last week, with REIWA members reporting 773 transactions.
What Are We Seeing On The Ground?
To be honest, we're often seeing the market move before the statistics catch up. REIWA data is fantastic, but it naturally takes time for information to filter through. We're dealing with buyers and sellers in real time, every day.
Here's what we're seeing:
✅ Buyers are definitely becoming more cautious.
✅ They're taking longer to make decisions.
✅ They're researching more.
✅ But the savvy buyers? They're still buying.
In fact, some of the smartest buyers are quietly securing property while others sit on the sidelines waiting for a correction that hasn't arrived.
The Under $2 Million Market Is Still Strong
Properties under $2 million continue to perform well.
The higher end of the market has slowed a little, but quality homes are still selling, generally within a couple of months if they're priced correctly.
For Buyers Who Need an Edge
Many buyers simply don't have the time to search, inspect, negotiate and secure property themselves.
That's where our Buyer's Agent Service comes in.
You pay us to work exclusively for you, helping you find and secure the right property while avoiding costly mistakes.
What we can't do is act as both the selling agent and the buyer's agent on the same property. Our sellers pay us to represent their interests, and that's exactly what we do.
The Bottom Line
Every week we're hearing buyers say they're waiting for prices to fall.
Yet properties are still selling.
Good properties are still attracting attention.
And buyers who are prepared to act are still getting deals done.
My job isn't to tell you what you should do.
My job is to tell you what's happening in the market right now.
What you do with that information is entirely up to you.
The market doesn't wait for certainty. The question is... are you waiting for a downturn that may never come? 🏡📈
MAKE YOUR OWN DECISIONS AND GIVE IT A REAL GO!!
SELLING MOSMAN PARK AND THE WESTERN SUBURBS!
KEEPING IT REAL IS OUR MOTTO!!
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