Meadow Springs saw slower turnover in November, with fewer sales and leases recorded. Despite this,
property prices remained steady and time on market improved slightly across both sales and rentals.
SALES
There were 13 residential sales recorded during the month, down 18.8% from October and 38.1% lower than the same time last year. The median dwelling price rose to $731,000, up 0.1% for the month and 8.5% over the year.
LISTINGS
There were 6 properties listed for sale at the end of November, down 33.3% from October and 80.6% lower than this time last year. The ongoing shortage of available stock is contributing to shorter selling times.
LAND
No land sales were recorded during November. The most recent median land price remained at $395,000,
unchanged for the month but up 6.8% over three months and 62.6% annually.
SALES TIME ON MARKET
Homes sold in a median of 8 days, unchanged from October. This was 5 days faster than three months ago and 3 days faster than a year earlier, reflecting ongoing buyer demand despite fewer transactions.
RENTALS
There were 8 leases signed during the month, down 42.9% from October and 33.3% lower than the same
time last year. The median rent held steady at $650 per week, up 3.2% over three months and 8.3% year on year.
RENTALS TIME ON MARKET
There were 12 rental listings at the end of November, up 50% from October and double the amount listed three months ago. Homes leased in a median of 17 days, 5 days faster than last month.
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