I know we said last week would be the last month that we review the 2012 property market but we can’t finish up without looking at Mcmasters. Note that the following figures are for all residential property sales on in Macmasters Beach so includes vacant land and the odd strata title property.
- There were 36 sales in 2012 down slightly from the 41 recorded in 2011, a 12% reduction.
- The total value of those sales fell to $27.98m from $39.4m in 2011, a 29% reduction.
- The average sale value was $777,194 against $961,183 in 2011, a 19% reduction.
- The median sale value was $594,000 against $860,000 in 2011, a 31% reduction.
- The highest sale was actually higher in 2012 at $2.55m against $2.35m in 2011 (which helps to explain the difference in median and average values).
It is hard to deny the Macmasters market took a hit in 2012 by falling 30%. It’s also hard to imagine there will be a better time to invest than now !