Palm Island Property Sales Overview
The median property value in Palm Island for December is $324,702.
Houses have increased by 0.67% for the month and decreased 0% for the year.
Rental demand is up with yields increasing in February to 6.39%, from 6.30% in January.
The number of properties sold this quarter is the same on last quarter from 0 to 0. This is the same on the 5 year quarterly average of 0 indicating no change in demand.
What's the median House price in Palm Island in December 2021?
The median property value for houses in Palm Island is $324,702.
This is an increase of 0.67% ($322,531) from last month.
How much does it cost to rent a House in Palm Island?
Rent prices in Palm Island are the highest they've been in 12 months at $361.
This is up 12.11% from a 12 month low of $322 in February 2021 and a 1.40% up from last month.
What's the current rental yield in Palm Island?
Rental yields for houses in Palm Island have increased in December for the 3rd consecutive month.
This is up from a 12 month low of 5.98% in February 2021 and the same from a 12 month high of 6.39% in December 2021.
How many properties sold in Palm Island in February?
Total sales volume in Palm Island is 0, which is the same from 0 in the previous quarter.
This is the same as the weakest quarter in the last 5 years which was Q3 2021 with 0 sales and 0% the same than the strongest quarter in the past 5 years which saw 0 sales in Q3 2021.
How long did it take to sell a property in Palm Island in February?
47 days is the average time on market in Palm Island in December, which is down from 48 in November and has been trending down since December 2020.
This can indicate a buyers market where sellers are finding it harder to make a sale.
Are properties selling below or above the listing price in Palm Island?
December sees the vendor expectation error for Palm Island at -1% which means, on average, places sold for -1% less than the listing price.
This is a great sign for buyers looking to negotiate.
It’s worth noting that in a hot market you might want to set your price expectations even higher than the -1% as things can move pretty quickly.