Last week we commented on an increase in the number of sales on the Killcare Peninsula and how this appears to be an ongoing trend. This week we look at Macmasters Beach and the story is a different one.
In the quarter just passed (Jan-Mar) there were 8 sales. There were also 8 sales in the same quarter of 2012. However the previous quarter (Oct-Dec) saw 21 sales. To put this in perspective Macmasters typically sees 30-40 sales per year, so 8 in any one quarter is right on average.
So what explains the fact that around 50% of a typical year’s sales occurred in the Oct-Dec 2012 quarter?
Whilst it is difficult to draw conclusions about a small and statistically volatile market like Macmasters, our best guess is the jump in the number of houses placed on the market in Spring combined with buyers seeing good value following a 12 month period where the median price dropped around 30% led to the unusually high number of transactions. Perhaps this signals that the worst is over in Mcmasters as well?