A Comparison between June and July 2023

As the real estate market continues to fluctuate, it's essential for potential buyers and sellers to stay informed about the latest trends Let's dive into the key differences in property sales and listings, average days on the market, and median prices for four popular suburbs in the Gold Coast area during June and July 2023

Broadbeach Waters: In June 2023, Broadbeach Waters saw a total of 7 properties sold, while in July, the number increased to 13 This surge in sales indicates a positive trend, showcasing increased demand for properties in this suburb However, the number of listings in July also rose from 14 to 20, which may offer buyers more choices but could potentially lead to increased competition among sellers The average days on the market remained steady at around 53 in both months The median price in Broadbeach Waters stood at $1,960,000 in both June and July, indicating stability in property values

Mermaid Waters: Mermaid Waters experienced a slight decline in property sales from 16 in June to 12 in July Despite this dip, the number of listings increased from 26 to 24, suggesting that buyers are still showing interest in this suburb The average days on the market remained relatively stable, hovering around 47 in June and 46 in July The median price also remained constant at $1,600,500, indicating a balanced market with steady property values

The Sorrento and Bundall area saw a decrease in property sales from 7 in June to 4 in July However, the number of listings also decreased from 17 to 13, potentially indicating a balanced market with less available inventory The average days on the market showed an increase from 38 days in June to 42 5 days in July The median price remained steady at $1,790,000, reflecting stable property values

Benowa experienced a increase in property sales from 6 in June to 8 in July Simultaneously, the number of listings decreased from 19 to 21, suggesting continued interest from buyers and potential opportunities for sellers The average days on the market increased from 55 in June to 60 in July, which may indicate a slightly slower market The median price remained consistent at $1,500,000, suggesting stability in property values

Overall, while the property sales varied in these suburbs between June and July 2023, the median prices remained relatively stable The average days on the market fluctuated slightly, reflecting changes in demand and supply dynamics These statistics provide valuable insights for both buyers and sellers in making informed decisions in the dynamic Gold Coast real estate market As always, it's essential to consult with a local real estate expert to gain a deeper understanding of specific trends and opportunities in each neighborhood