Mitcham is a busy, high-turnover market, and right now the quickest-moving stock is the smallest. Two-bedroom units are selling in under three weeks and three-bedroom units in a little over, both faster than any house segment, with strong pass rates to match. That speed is being driven by downsizers and first-home buyers competing for low-maintenance homes.
The house market is deep as well. More than a hundred three-bedroom homes near $1.105m and over eighty four-bedroom homes changed hands across the year, so buyers have plenty of choice, and that makes accurate pricing the difference between a quick sale and a stale listing.
If you own a unit or townhouse the current pace is on your side and worth using. If you are selling a house the demand is there, but with a lot of comparable stock around, a price grounded in recent local sales is what gets buyers through the door and to an offer.
Median sale price for houses in Mitcham is $1,200,000, up 3.4% from last year.
Median sale price for units in Mitcham is $771,000, up 4.6% from last year.
Properties sold for houses in Mitcham is 219, up 0.0% from last year.
Properties sold for units in Mitcham is 79, down 28.8% from last year.
Auction clearance for houses in Mitcham is 70.3%, down 7.1% from last year.
Auction clearance for units in Mitcham is 74.5%, up 4.3% from last year.
Av days on market for houses in Mitcham is 32, down 3.0% from last year.
Av days on market for units in Mitcham is 31, down 32.6% from last year.
Wondering what homes are actually selling for locally? Browse recently sold properties in the area
Good property management should remove uncertainty, not create more of it.
If you're considering engaging a property manager, one of the first questions you're likely to ask is: how much does property management actually cost?
Owning an investment property and owning a good investment property are not necessarily the same thing. It’s an important distinction, and one that property investors should revisit regularly.
The Reserve Bank's decision to leave the cash rate on hold at 4.35 per cent is welcome news for buyers, sellers and businesses alike. While it's not a silver bullet for Melbourne's property market, it should provide some reassurance that the aggressive phase of the interest rate tightening cycle may be easing.
Discover the hidden potential of your biggest asset — for free, in seconds. Choose an Instant Appraisal for immediate market value and suburb performance, or request an in-depth Agent Appraisal from our experienced local Woodards professionals.
No obligation. No pressure. Just clarity.
Find Blackburn's Best Real Estate Agents at Woodards
All of our agents have the experience and local knowledge to guide you
Whether selling or investing, an appraisal of value will give you the confidence to make an informed decision
Switch to Woodards Property Management
