Thursday, July 2, 2009

June Viewing and offer figures – Half year wrap-up

Are things looking up for beleaguered estate agents in Ireland?

While there is still a lot of bad news regarding the economy, jobs etc, there has been a big increase in activity over last month.
Viewings and offers have increased, month on month.
For the first time this year, offers have exceeded the same month in 2008!

The lack of finance seems to be abating, with trader-uppers now getting finance as well as first-timers, albeit with some difficulty.
We have noticed a marked increase in sales of home with a value around €300k, whereas up until now, €200k was a cut-off point!

Enough of my analysis, here are the figures:

June 2008: Viewings 89 Offers 39

June 2009: Viewings 77 Offers 41

Amazing to see that offers come in more than 50% of viewings. Viewers are very focused, have done their homework, know the houses they want to see and the price they are willing to pay.
While viewings are down by 12 on May, offers are up by 2, giving an exceptional strike-rate.

Home-sellers who are getting viewings have addressed pricing (in some cases down 25% from 2008!) and more deals are going through.

The six-month figures are:

Jan-June 2008: Viewings 695 Offers 236

Jan-June 2009: Viewings 409 Offers 192

So there you have it. Six-month on six-month, viewings down by 41%, offers down by 19%.

After the dreadful first 3 months of the year, there has been a substantial lift in activity, albeit at a lower value range.
However, it is not as bad as the bleak, doom-laden picture being painted by the national media.

Houses are selling...if priced for the current market.

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