Ravenswood had a quiet but stable month in September, with low sales volumes, steady pricing, and slightly improved rental movement despite tight availability.
Sales
There were 5 residential sales recorded during the month, unchanged from August but 66.7 percent higher than the same time last year. The median house price rose marginally to $671,000, reflecting annual growth of 8.2 percent.
Listings
There were 4 houses listed for sale at the end of September, double the amount recorded in August. Listings have risen slowly but still remain limited overall.
Land
Land activity remained very low. One land sale was recorded in September, with a median price of $245,000. There was only one block listed for sale at month’s end, and land sold quickly in a median of 7 days.
Sales Time on Market
Houses sold in a median of 7 days, showing strong buyer urgency in a tightly held market. Land also moved swiftly with a 7 day median to sell. Units did not record any sales this month.
Rentals
Rental activity held steady with 5 properties leased during the month. The median rent for houses was $600 per week, up 3.4 percent year on year but slightly lower than in August.
Rental Time on Market
There were only 3 rental properties listed at the end of September. Homes leased in a median of 29 days, consistent with seasonal norms and reflective of low vacancy rates across the suburb.
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