The prices realised for houses in Far North Queensland particularly Cairns, Port Douglas & the Atherton Tablelands in 2021-22 were some of the best ever seen. Each month the market moved and vendors, sellers, agents & even valuers had to hold on tight for the ride. Sellers were in a position of being able to test the market with ambitious prices. More often than not these punts worked to their advantage and in many cases were exceeded.
The REIQ Zone chair for Cairns, Tom Quaid suggests that “despite the market remaining buoyant, many sellers state-wide are missing the mark when it comes to setting the right price for their property. An error that is becoming more expensive as we head into an error of uncertainty. The pace of growth has slowed and expectations need a reset. This is not to say the market has gone backward as it has not. With price consolidation comes the need to be realistic. So more than any time in the last 2 years getting the price upfront or responding quickly to feedback from buyers and agents” as your campaign progresses. No enquiry or feedback is also feedback in itself. If you don’t react to these signals your property could be sitting on the market for some time.
The prices realised for houses in Far North Queensland particularly Cairns, Port Douglas & the Atherton Tablelands in 2021-22 were some of the best ever seen. Each month the market moved and vendors, sellers, agents & even valuers had to strap in for the ride. Sellers were in a position of being able to test the market with ambitious prices. More often than not these punts worked to their advantage and in many cases were exceeded.
Tempering expectations is made easy today, as at our fingertips are numerous online tools. These need to be used to substantiate your estimated price on your property. You can be sure buyers are using these tools to assess their options when buying. This is why it is important to get your price right from the start!