Now is the time to sell in Victoria.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
Home owners south of the Border are selling their homes faster then ever with some suburbs having an average of less than a month on the market.
Sellers in Wangaratta are waiting just 28 days before a sold sticker goes on their home.
But for the rest of the North East homes are sitting on the market for months longer with Bright almost three times the state average.
For Wodonga home owners the normal is about two and a half months before a sale goes through.
New figures released by the Real Estate Institute of Victoria show some suburbs across the state, including Daysleford and Ballarat, have an average of just 22 days on the market.
Wangaratta is just outside the top 10 in the state and topping the North East suburb list.
The median sale price is $315,000 for the city which is almost $100,000 less than the regional average of $409,000.
IN OTHER NEWS:
Benalla saw the biggest reduction in days on the market over the past 12 months going from 127 days at October 2018 to just 74 in 2019.
Myrtleford had the next best average with 57 days on the market, followed by Beechworth with 58 and Wodonga with 75.
REIV president Leah Calnan said the average Victorian house spends 42 days on the market before being sold.
"Victoria's real estate sector is buzzing," she said.
"There is increasing competition for purchases and people are getting shorter turnaround times such as those in Wangaratta with just 29 days on the market.
"Our members are telling us that they are being flooded by new enquiries from people looking to purchase a home.
"Less time on the market means we have a lot of hungry buyers who can't wait to purchase a home.
"With interest rates remaining low, and lending conditions softened, there are a lot of cashed-up buyers looking to invest locally."
Ms Calnan said some homes are sold in just over a month.
"There is a large demand for new homes to be listed for sale," she said.
"If you are thinking about selling, now is the time to do it. You'll be in line for a great price and a speedy transaction."
Bright has the longest average in the North East with houses generally having 110.5 days on the market.