Updated: Nov 14, 2021
This property market update will provide insight into the local house market in Kellyville Ridge NSW 2155 for October 2021 during the easing of the Covid-19 lockdown.
The number of houses sold (indication for the supply).
In October 2021, there were 11 houses sold in Kellyville Ridge. This number is less than the average number of houses sold in October within the past three years, where 12 homes sold. For comparison, in September 2021, 7 houses were sold in Kellyville Ridge, indicating a supply trend is increasing.
Eight of the properties sold were 4-bedroom houses (72.72%) and three was at least 5-bedroom houses (27.28%).
Property selling methods: auction vs private treaty.
Four houses were sold through auction (36.36%), while the other eleven were sold through private treaty / by negotiation (63.64%). Kellyville Ridge auction clearance rate for October was 80%.
For comparison, in 2021: 74.61% of properties were sold by private treaty, and 25.39% were by auction. The Kellyville Ridge auction clearance rate for 2021 is 80%.
➞ Related: Choosing auction vs private treaty.
Average days on the market (indication for the demand)
In October 2021, the average days on the market for all properties were 33 days, twelve days longer to sell than the average in 2021, which indicates a lower buyer demand or competition.
A four-bedroom house is the most popular with buyers as it takes the shorter time to sell on the market with average of 22 days compared with a five-bedroom house with 79 days.
This trend is consistent with all the houses sold in 2021 where a four-bedroom home takes shorter time on the market (average of 20 days) compared with a five-bedroom house (average of 25 days).
Median sold prices.
The median price for all houses was $1,540,000 (39.36% increase from the October 2020 median price of $1,105,000 and 9.22% increase compared to last month).
The median for a four-bedroom house was $1,497,500 (higher than last month median of $1,470,000 and the 2021 median of $1,350,000).
The median for a five-bedroom house was $1,855,000 (higher than last month median of $1,481,000 and the 2021 median of $1,471,000).
The Highest Sold Prices.
The highest price sold in October 2021 for Kellyville Ridge was $2,300,000.
The highest price sold for a four-bedroom house was $1,600,000.
The highest price sold for a five-bedroom house was $2,300,000.
In summary, the Kellyville Ridge property market in October 2021 continues strong, aided by the ease of Covid-19 lockdown. The property market showed high median prices and a high auction clearance rate even though it has a longer time on the market, indicating a decrease in demand. Based on time on the market, a four-bedroom house is quicker to sell than a five-bedroom house. October median selling price was significantly higher than October last year and increased from September median price, indicating the selling price's upward trend.
It's important to stay updated with your local property market, so if you want to know the value of your property in this current market, you can start with free property appraisal for Kellyville Ridge. You can also read the answers to the most asked question by house sellers about selling a house in Kellyville Ridge.
Irving Gunawan | Ray White Kellyville
📞 0468 956 677