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What is happening in the Summerstrand House market

What is happening in the Summerstrand house market?

THESE ARE THE FACTS

  • Since October 2016, (almost 3 years) only 38 houses were sold for over R3m in Summerstrand.
  • Around 52 properties are for sale in Summerstrand over R3m on a leading property website.
  • Many of these have been on the market for years with some listed by multiple agencies.
  • Older listings generally achieve lower prices.
  • Open mandates mean no commitment by agents - The property becomes everyone’s listing and no one’s responsibility.
  • In 2018 (year to date) the average sold price for freehold houses in this suburb is R2 000 000.