It’s November and the real estate market is has hot as the weather we’ve been having. I’m about to share with you what’s been going on in our area over the last 30 days
Hi I’m Zulika van Heerden with Freek Properties and welcome to this month’s Monday market match
So what’s been going on in our real estate market here in Langebaan over the last 30 days ? Well guys our inventory levels are still so low and it is a very busy market right now we only have around 49 homes on the market in Country Club and 76 in Myburgh Park – on some of the big property portals will show over over 80 in Country Club and over 120 in Myburgh Park, but of them are duplicates
We’ve seen around 15 homes go under offer in the last month, so stock is running low
A 3 bed, 2 bath home average price is around R2 mil if you’re looking at a home that is bigger than 200m2. The smaller 3 bedroom homes average at around R1,750,000
The average sales price our sellers got between 92-95% of their list to selling ratio which that number is pretty spot on and has stayed that way over the last several months and it took an average of 68 days to actually sell a home here in Langebaan, some even being sold within a week.
Now remember that number of 49 and 76 active homes in the last 30 days?
We only put 16 of those homes on the market (8 in country club and 8 in Myburgh park) that means there’s still more than 109 homes in the two areas together that are sitting on the market that are either in a higher priced bracket, which naturally moves slow…. Or they are overpriced – which is the case with many of them.
Now you’re probably wondering how in the world can a house be overpriced and our inventory is so low well guys it’s important that you have a professional real estate agent explain the market to you….. just because our stock levels are low doesn’t mean we can just put any price we want on a property – the property still has to find value with a bank and buyers are informed…. And of course that right now is a big hurdle that we’re having to jump on almost every transaction
Last year we put more than 115 homes under contract we put more homes under contract this year than we did last year and oh my goodness guys with the pandemic that we’ve had to deal with with this covid19 it has not suppressed our real estate market at all as a matter of fact it has put a lot of fire under a lot of people to figure out exactly where they want to go to make sure they have their house that fits their needs.
Whether they have kids that are now in home-schooling – they need a space for that or they’re having to work from home – they need a space for that
We are also finding that a lot of people from Gauteng have started their semi-gration again….and our interest rates are phenomenal right now.
So if you’re thinking about buying and selling real estate right now I encourage you to reach out to my team and I
I encourage you also to share this video like and comment below and I look forward to meeting you in person soon!