The Rise of Off-Market Sales in Mosman: A Promising Sign for Buyers and Sellers
Across our office, and in the market at large, we have seen a flurry of off-market sales in the past two weeks that have caught our attention. The market has seen properties transact in the mid-two million, all the way up to $19,000,000. These were a combination of expired listings from earlier in the year, and completely off-market properties.
Undoubtedly, one factor contributing to this is the severe lack of available properties across the Lower North Shore. At time of writing, there are 35 houses/semis on the market across Mosman, Cremorne, Cremorne Point, Neutral Bay and Kurraba Point. As demand continues to outstrip supply, buyers are becoming more proactive and seeking alternative avenues to secure their dream homes. Off-market sales, where properties are sold privately without being officially listed on the market, are increasingly becoming a popular choice for both buyers and sellers. Interestingly, both independent buyers and buyers agents have been involved in these transactions.
The significance of this trend goes beyond the immediate shortage of housing stock. It serves as a telling sign that buyers are willing to meet the market and potentially marks the beginning of a sharper upward trend. During softer market conditions, off-market deals are often the first to dwindle. However, the current surge in off-market sales suggests that buyers are eager to seize opportunities and make confident moves in the face of limited options. Today’s pause on interest rate rises may further solidify this confidence.
For homeowners contemplating a Spring Sale, exploring off-market transactions now can provide several advantages. By testing the off-market option, you can gain valuable insights into accurate pricing feedback. This knowledge can be invaluable when planning a spring campaign, ensuring you set the right price and attract genuine interest from potential buyers.
Moreover, securing a great result through an off-market sale can be a game-changer for your future plans. You can lock in a favourable outcome ahead of the competitive Spring season, giving you a head start and reducing uncertainty. By utilising the off-market route, you may even find yourself in a more favourable negotiating position.
At Atlas, we understand the evolving dynamics of the Lowe North Shore real estate market and the importance of staying ahead of the curve. Our team is well-versed in off-market sales and can guide you through the process, offering personalised advice to ensure you achieve the best outcome.
Whether you're a buyer searching for your dream home or a seller considering your options, now is the time to explore this. We encourage you to reach out to us for a confidential discussion about how off-market sales can benefit you and set you up for a successful Spring campaign.
We are here to assist you every step of the way. Feel free to contact us to discuss your specific needs and explore the possibilities that off-market sales offer, and more importantly, which buyers we have now that will be willing to pay a premium to avoid the Spring rush.