Balwyn has seen the sharpest price adjustment anywhere in this update, the median house price down 14.2 per cent this year to $2,394,000. Buyer sentiment has been genuinely cautious, with plenty of media commentary about prices falling further weighing on confidence, but the apartment market tells a different story entirely, unit prices up a strong 12.5 per cent to $807,400.
Sales volume has held reasonably steady, down 9.6 per cent for houses but up 8.2 per cent for units, and clearance for units remains solid at 75.0 per cent. Downsizers remain the dominant buyer type, and family homes continue to be genuinely desirable.
With stock levels improving and buyers and vendors increasingly meeting the market, vendors who listen to their agent's guidance on pricing and marketing strategy are best placed to convert this year's more cautious buyer pool into a result.
Median sale price for houses in Balwyn is $2,420,000, down 13.8% from last year.
Median sale price for units in Balwyn is $815,000, up 14.8% from last year.
Properties sold for houses in Balwyn is 180, down 11.8% from last year.
Properties sold for units in Balwyn is 120, up 4.3% from last year.
Auction clearance for houses in Balwyn is 55.9%, down 24.2% from last year.
Auction clearance for units in Balwyn is 75.0%, down 6.3% from last year.
Av days on market for houses in Balwyn is 53, up 26.2% from last year.
Av days on market for units in Balwyn is 36, down 7.7% from last year.
Wondering what homes are actually selling for locally? Browse recently sold properties in the area
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