James Buy Sell Market News with Off Markets every Monday
MAL’S MID-YEAR MARKET SUMMARY
A few real stories. A few real signs. And a real market (almost).
Last night — at the end of one of our busiest weeks in months — we missed out on a home in Malvern East for a client.
It had sat for yonks, overpriced.
But now, with a price drop?
Gone. Multiple bidders. Competitive….the discount in the end was not that much
An improving market — currently disguised by the statistics of the haves (bidders) vs the have-nots (interest).
We covered 33 Auctions today as Week 1 of our 100 Auction Top End Test 2025M2. Bidderman 1.3 and Clearance 61%
This Week in Melbourne Real Estate – A Market in Motion?
Let’s start with Toorak — reportedly down over 25% in 2024 (according to last week’s press).
Our Price Burger model isn’t only about market timing — but market context does matter. And the graphs and data we’re seeing right now tell a clear story: many buyers are overpaying, and many sellers aren’t selling — because they haven’t fully grasped the market reality.
What would happen if Donald Trump and Mal James walked into a room and gave you advice on buying a home?
Because the job people pay me for is the 3 O’s:
• Opinions
• Options
• And ultimately… Outcomes
And while people want more, it’s not more opinions, or even more options.
It’s more outcome.
YES. But Mal my house didn’t sell or hasn’t attracted any interest and yet you said the market is a lot better!
That’s correct my friend. Look at the graphic above. We are just turning a corner and those that are selling are at market not 10 to 20% above market. We are nowhere near 2021 yt!, but we are seemingly chortling back in that direction!
Have I gone too early?
Looking at today’s results, that’s a fair question to ask. Clearances (61%), Bidderman (1.5) — back into the no so brilliant range on the 33 auctions we covered today.
We covered 39 Auctions today as part of our 100 Auction Test to begin 2025M1. She’s Strong!