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.