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Our Area Since COVID-19

By Gabe Vass

Saratoga, Davistown & Yattalunga Market Update

In the face of the ‘doom and gloom’ media reporting surrounding the impact of COVID-19, the resilience of the Central Coast housing market has never been more evident than over the past four months. Most of us are surprised at the strong level of activity and prices achieved in Saratoga, Davistown and Yattalunga, despite the market operating under restrictive conditions and amidst extremely negative media commentary.

The last 60 days of sales have revealed huge buyer demand up over double on the same time frame last year resulting in some exceptional prices across our area. Record low interest rates (over 1% down on same time last year), very low volumes of available property for sale (22% down on last year) and a large drive of lifestyle seekers from greater Sydney seem to be the key factors.

Despite progressing restrictions and anxiety in the broader community, our area has seen 52 sales so far this year, with 35 of those occurring after the initial restrictions were put in place in March. Since COVID-19 impacted our area Ray White has sold 25 properties, totaling $21.2 million for the last three months.

Our peninsula notably has seen 14 sales over one million this year thus far, and the median sale price is holding at $746,000 with many buyers ranging from entry level to matured families seeing value in the area with its relaxed coastal lifestyle, amenities, and proximity to the beaches.

We have good reason to believe that this window of buyer demand may be short lived based on government stimulus packages coming to an end shortly. This report explains why we are seeing strong sales results now, relevant data, and the outlook for the balance of 2020 – an interesting read if you’re monitoring the market, or considering selling…

To download the above PDF please follow this link Ray White Now. If you would like to find out what your home is worth today, please get in touch with your area’s leading agent on 0425 215 764 or email gabe.vass@raywhite.com

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