Sydney’s property market has changed significantly in recent months.
Buyers now have more properties to choose from and more time to make decisions. For sellers, that means standing out has become increasingly important.
Sydney Has Become a Buyer’s Market
The number of properties available across Sydney has increased considerably.
Total residential listings rose 6.6% during July and were 28% higher than the same time last year.
More stock means buyers can compare properties, negotiate and wait for the right opportunity rather than feeling pressured to act.
For sellers, simply putting a property on the market is no longer enough.
Pricing, presentation and negotiation are becoming increasingly important to achieving a successful result.
Hornsby Is Showing Greater Resilience
While conditions across Sydney remain challenging, recent auction results show that performance can vary significantly between locations.
North Sydney and Hornsby recorded a 66.1% auction clearance rate for the week ending 9 August.
Sydney overall recorded 51.5% during the same week.
This highlights an important distinction in the current market. Buyers may be more selective, but they are still competing for the right homes in desirable locations.
What Does This Mean for Sellers?
Today’s market rewards preparation.
Setting a realistic price from the beginning can help create competition rather than allowing a property to sit on the market.
Presentation and marketing also matter more when buyers have several comparable homes to consider.
Most importantly, sellers need a strategy based on what is happening in their local market, rather than relying solely on Sydney wide headlines.
An Opportunity for Buyers
For buyers, greater choice can create opportunities.
There is more time to compare properties, complete due diligence and negotiate without the same urgency experienced in stronger seller markets.
However, desirable homes can still attract competition, particularly in established areas such as Hornsby Shire.
Whether you are buying or selling, understanding the conditions surrounding your particular property is becoming more important than ever.
Speak with the Saliba team to understand what is happening in your local market and what it could mean for your next move.