Palm Grove Property Sales Overview
The median property value in Palm Grove for December is $599,673.
Houses have increased by 1.38% for the month and decreased 0% for the year.
Rental demand is up with yields decreasing in February to 5.00%, from 5.02% in January.
The number of properties sold this quarter is down on last quarter from 1 to 0. This is down on the 5 year quarterly average of 1 indicating weaker demand.
What's the median House price in Palm Grove in December 2021?
The median property value for houses in Palm Grove is $599,673.
This is an increase of 1.38% ($591,539) from last month.
How much does it cost to rent a House in Palm Grove?
Rent prices in Palm Grove are the highest they've been in 12 months at $552.
This is up 12.88% from a 12 month low of $489 in February 2021 and a 1.47% up from last month.
What's the current rental yield in Palm Grove?
Rental yields for houses in Palm Grove have decreased in December for the 2nd consecutive month.
This is up from a 12 month low of 4.94% in September 2021 and down from a 12 month high of 5.16% in July 2021.
How many properties sold in Palm Grove in February?
Total sales volume in Palm Grove is 0, which is down from 1 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 -100.00% weaker than the strongest quarter in the past 5 years which saw 2 sales in Q2 2019.
How long did it take to sell a property in Palm Grove in February?
23 days is the average time on market in Palm Grove in December, which is the same from 23 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 Grove?
December sees the vendor expectation error for Palm Grove at -0.5% which means, on average, places sold for -0.5% 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 -0.5% as things can move pretty quickly.