WCTB Real Estate

Key takeaways for the week ending July 5

• Home sales were up 2% from pre-pandemic levels and are likely to continue rising; pending sales were up 10% during the same period.
• Weekly average mortgage rates fell to a new low of 3.03%, fueling homebuyer demand.
• New listings recovered to pre-pandemic levels for the third straight week, but can’t keep pace with buyer demand; the number of homes for sale was down 29% from last year.
• Nearly half of homes that sold during the week spent two weeks or less on the market, making the market feel “chaotic” for buyers.
• Low

After 30 years of owning a Victorian terrace in Fitzroy as an investment property, Jenny Vizard was faced with a dilemma.

Needing a new home, she could either renovate the tired inner-city cottage and move in herself, or sell it and buy elsewhere.

“I was apprehensive about renovating, but I had a sentimental attachment to the little house. So I felt it was a possibility that was worth investigating,” she said.

RELATED: The ultimate home for cat lovers: Artistic Fitzroy pad has feline

Any seasoned real estate agent or market observer will tell you that all real estate markets go through cycles. Your local market is no different. If you’re considering a home sale or purchase, you’ll want to identify your market’s cycle to take advantage of the best timing for buying or selling. Whether you are looking to buy a condo in Miami, FL or sell your home in Atlanta, GA, knowing your market is very important. 

A seller’s market is prevalent in your area when these factors are in place:

• Inventory of available homes is low. There are fewer homes

Lisa Keighery has listed her Snapperman’s Beach, Palm Beach retreat with $17 million hopes. The beachfront, set on the prized Iluka Rd, is being marketed by its McGrath agent William Manning as a classic contemporary home.

“It is the epitome of beachside luxury and style,” Manning said.

MORE: Glimpse inside Sophie Monk’s incredible new home

Kerr rumoured to be buyer of Hunter Valley trophy

Keighery, who used architect Alexander Roth along with Marco ­Meneguzzi for the interiors, is now seeking a Southern Highlands cottage project, and to buy back into the Sydney

First built as the farmhouse on the old Narrabundah station, this cosy Red Hill cottage presents a rare opportunity to share in a slice of Canberra’s agricultural history.

Set on a sprawling 2148sqm lot, the weatherboard home at 51 Endeavour Street was constructed in 1951 as the family home of Charles Russell, who held the lease to graze sheep and cattle in Red Hill and Narrabundah until 1992.

MORE: It’s game, set and match at this amazing home

New home sale record for Yass Valley

It was constructed in