Karana Downs Property Sales Overview
The median property value in Karana Downs for December is $636,664.
Houses have increased by 1.73% for the month and decreased 0% for the year.
Rental demand is up with yields decreasing in February to 4.05%, from 4.07% in January.
The number of properties sold this quarter is down on last quarter from 34 to 9. This is down on the 5 year quarterly average of 83 indicating weaker demand.
What's the median House price in Karana Downs in December 2021?
The median property value for houses in Karana Downs is $636,664.
This is an increase of 1.73% ($625,845) from last month.
How much does it cost to rent a House in Karana Downs?
Rent prices in Karana Downs are the highest they've been in 12 months at $450.
This is up 11.66% from a 12 month low of $403 in January 2021 and a 1.35% up from last month.
What's the current rental yield in Karana Downs?
Rental yields for houses in Karana Downs have decreased in December for the 3rd consecutive month.
This is the same from a 12 month low of 4.05% in December 2021 and down from a 12 month high of 4.41% in December 2020.
How many properties sold in Karana Downs in February?
Total sales volume in Karana Downs is 9, which is down from 34 in the previous quarter.
This is 12.50% stronger than the weakest quarter in the last 5 years which was Q3 2017 with 8 sales and -74.29% weaker than the strongest quarter in the past 5 years which saw 35 sales in Q2 2021.
How long did it take to sell a property in Karana Downs in February?
11 days is the average time on market in Karana Downs in December, which is the same from 11 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 Karana Downs?
December sees the vendor expectation error for Karana Downs at 5.5% which means, on average, places sold for 5.5% more than the listing price.
This is handy to know as a buyer to set your expectation and to give you a more realistic view of what you might expect properties to sell for on auction day.
It’s worth noting that in a hot market you might want to set your price expectations even higher than the 5.5% as things can move pretty quickly.