Suburbs where property is selling at lightning speed
ONE of the biggest fears for homeowners taking the step towards selling is having their place linger on the listing shelf.
Just the idea of seemingly endless open for inspections, having to keep your house tidy and kids’ belongings in check is enough to keep some people away from selling altogether.
But savvy sellers can do their homework and get a good idea of just how long homes in their neighbourhood are taking to sell by finding out their suburb’s “time on market” number.
New data crunched by realestate.com.au has shown the suburbs throughout Australia with the shortest time on market and the results are unexpected.
Glamorous blue chip suburbs take a back seat to the more practical and affordable neighbourhoods in most cases.
The magic number is calculated as the amount of time between when a property is listed on the site and when the home is marked as sold. Each suburb that made the top 10 sold between April 1, 2015 and March 31 this year.
Kalorama, an outer ring suburb west of Melbourne that borders the Dandenong Ranges National Park has the shortest days on market according to the research with homes in the leafy patch selling in an average of just 13 days.
Nearby in Upwey, also near the Dandenong Ranges, homes are being offloaded in only 15 days, the same amount of time it takes to sell homes in Penrose, a small township in the Southern Highlands of NSW that is 154km from Sydney’s CBD.