Adelaide home sales are tracking almost 28% above the five-year average, and homes are selling in just 32 days on average which is the fastest average selling time since 2007.
Such tight market conditions are pushing prices higher, with Adelaide house values up 6.1% over the past months.
Unit values aren’t rising quite as quickly, rising 1.3% over the same period of time.
While sales and values are rising at an above-average rate, listing numbers remain well below normal levels.
At the end of May, there were 5,460 residential properties for sale across Adelaide, which was 30% below the five-year average for this time of the year.
You may also want to read:
National Housing Market Update [Video]
Perth Housing Market Update [Video]
from Property UpdateProperty Update https://propertyupdate.com.au/adelaide-housing-market-monthly-update-video/
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