Wannanup recorded a slower month in November, with fewer properties leased and a drop in overall sales activity. However, prices held firm across houses, units, and land, and listings began to rise again.
SALES
There were 11 residential sales recorded in November, up 37.5% from October and 57.1% higher than the same time last year. The median dwelling price dipped slightly to $869,000, down 0.6% for the month but still up 8.8% year on year.
LISTINGS
There were 11 properties listed for sale at the end of the month, down 31.3% from October but up 120% over the past three months. Stock levels remain 50% lower than this time last year despite the quarterly lift.
LAND
Land activity increased with 8 sales recorded in November at a median price of $525,000. Land prices
remained flat for the month, but rose 6.1% over three months and 38.2% annually. Land sold quickly with a median of 9 days on market.
SALES TIME ON MARKET
Homes sold in a median of 33 days overall, 9 days quicker than in October. Land sold faster in just 9 days,
down 4 days from the previous month. Unit sales were slower with a median of 160 days on market.
RENTALS
There was only 1 residential lease signed during the month, down 66.7% from October and 88.9% lower than the same time last year. The median rent dropped to $660 per week, down 1.5% month on month but still up 5.6% annually.
RENTALS TIME ON MARKET
There were 6 rental listings at the end of November, a 200% increase from October. Properties leased in a median of 27 days, 1 day faster than the previous month.
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