Sellers can still be winners on the 2019 Moreland property market.
Local real estate agents say upgraders and those who set realistic asking prices can come out ahead despite softer market conditions.
Nelson Alexander Brunswick director Arch Staver said sellers looking to buy in the same market should not be afraid to list their homes.
“If you’re transacting in the same market it’s all relative,” Mr Staver said.
“If you’re looking to scale up then that gap between your house and the next one has probably never been that close, because when a market does correct it corrects in percentage points.
“So a more expensive house will get a larger dollar correction than your house and really that gap has never been so close.
“It’s a good, even market in which to transact. There are no surprises so if you plan well you can achieve good outcomes.”
Barry Plant Coburg director Rocco Siciliano said the key to successful selling in 2019 was setting the right price.
“We’re telling our vendors to make sure they price their homes realistically and they will sell,” Mr Siciliano said.
He said even though vendors might sell for less than they would have a year ago, they should not lose out if buying their next home in the same market.
“If you want to sell, make the move. You’re still going to get good value if you price it right and meet the market expectations,” he said.
“Then if you’re buying in the same market, you’re still going to do well.”
Mr Siciliano said it took sellers some time to adjust to the market slowdown last year.
“But I think they’ve come to the realisation that the market has come back and now they have adjusted and started to meet the market,” he said.
Mr Siciliano said he believed prices had “come back a good 5 to 6 per cent over the past six months” but sellers who set realistic prices were often rewarded with higher than expected sales.
“As soon as they become realistic with the market in terms of where the price point is that buyers see good value, they are getting multiple buyers and a good result,” he said.
Mr Siciliano said the owners of the two-bedroom townhouse at 4/67A Glenlyon Rd, Brunswick set realistic price hopes of low to mid-$800,000s ahead of their December 8 auction.
“It sold for $894,000 under competition from three bidders. For a two-bedroom townhouse that’s big money,” he said.
“The vendors were realistic. Probably six months ago they would have tried to achieve $850,000-$900,000 so they came back to mid-$800,000 and buyers saw that as really good value.”