Ripley Property Sales Overview
The median property value in Ripley for December is $461,167.
Houses have increased by 1.77% for the month and decreased 0% for the year.
Rental demand is up with yields increasing in February to 4.56%, from 4.54% in January.
The number of properties sold this quarter is down on last quarter from 72 to 8. This is down on the 5 year quarterly average of 115 indicating weaker demand.
What's the median House price in Ripley in December 2021?
The median property value for houses in Ripley is $461,167.
This is an increase of 1.77% ($453,132) from last month.
How much does it cost to rent a House in Ripley?
Rent prices in Ripley are the highest they've been in 12 months at $415.
This is up 11.86% from a 12 month low of $371 in January 2021 and a 0.97% up from last month.
What's the current rental yield in Ripley?
Rental yields for houses in Ripley is 4.56%.
This is up from a 12 month low of 4.54% in November 2021 and down from a 12 month high of 4.89% in December 2020.
How many properties sold in Ripley in February?
Total sales volume in Ripley is 8, which is down from 72 in the previous quarter.
This is -11.11% weaker than the weakest quarter in the last 5 years which was Q2 2018 with 9 sales and -83.67% weaker than the strongest quarter in the past 5 years which saw 49 sales in Q4 2020.
How long did it take to sell a property in Ripley in February?
9 days is the average time on market in Ripley in December, which is down from 10 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 Ripley?
December sees the vendor expectation error for Ripley at 5.4% which means, on average, places sold for 5.4% 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 5.4% as things can move pretty quickly.