Balwyn is running at two speeds. The apartment market, where much of the downsizer activity sits, is genuinely strong: three-bedroom units near $1.355m are clearing at around three in four inside about five weeks, and two-bedroom units are close behind. Confidence among downsizers wanting to stay local is clearly building.
The prestige house end is a different story, and it is where patience is most needed. Five-bedroom homes carry a median near $3.95m and are sitting close to thirteen weeks on market with fewer than four in ten selling under the hammer. Four-bedroom homes near $2.42m are clearing at about half.
If you are downsizing into quality this is an encouraging market to sell into. If you are selling a larger family home, the buyers are there but deliberate, and a price built on genuine recent sales, not the peak figures of last year, is what makes the difference.
Median sale price for houses in Balwyn is $2,394,000, down 14.2% from last year.
Median sale price for units in Balwyn is $807,400, up 12.5% from last year.
Properties sold for houses in Balwyn is 188, down 9.6% from last year.
Properties sold for units in Balwyn is 119, up 8.2% from last year.
Auction clearance for houses in Balwyn is 55.8%, down 26.1% from last year.
Auction clearance for units in Balwyn is 75.0%, down 7.4% from last year.
Av days on market for houses in Balwyn is 52, up 10.6% from last year.
Av days on market for units in Balwyn is 36, down 14.3% from last year.
Wondering what homes are actually selling for locally? Browse recently sold properties in the area
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