December Market Snapshot #3

The Sydney real estate market seems to be slowing down slightly as we head closer to Christmas, with the latest data from the Australian Property Monitors (APM) illustrating a reduced auction clearance rate over last weekend (December 14).

There were  636 properties listed on the market, with only 509 being sold - ending up with an  auction clearance rate of 76 per cent recorded for the New South Wales capital city. The median sale price also fell over the last week and dropped from $890,000 down to $820,000.

While this doesn't signify a falling market, it could offer a great opportunity for potential home buyers to emerge and secure a great deal in the current climate.

In terms of sales for Sydney's Inner West suburbs, there was a degree of activity occurring across the region. For example, first home buyers could be interested in Drummoyne property, with two properties selling there for $540,000 over the last weekend.

Leichhardt has had another great weekend, with two properties selling for well above the citywide median price.

A two-bedroom property sold for $900,000, while a three-bedroom home sold for a fantastic $1,294,000 - highlighting the fairly even ground between buyers and sellers across the New South Wales capital.

Finally, Lilyfield and Rozelle both recorded sale success, selling one and two properties, respectively. The Lilyfield three-bedroom property sold for a huge $960,000, while Rozelle saw reduced prices - selling for $800,000 and $592,000 over the weekend.

If you're looking into purchasing property in the near future, this one bedroom apartment in Balmain could be the perfect home for you.

Just a short walk from the famous Darling Street, the centrality of this location is not to be missed and could be great for young professionals looking for accommodation in the area.