The real estate industry is subject to market fluctuations and economic conditions. The prices of properties can rise and fall based on a number of factors, including demand for houses, new project development, economic boom, etc. A property that might be worth over a million dollars one year might dip down to $900,000 the next because of market conditions. In 2015, the Sydney median house price dropped below one million and continued to drop for a while before rising in 2016. According to CoreLogic, property median prices in Sydney have gone up by 64% since 2012.

What is Median House Price in Ryde?

The median house price is an easy concept to understand. It’s the middle number of all the properties sold over a defined period of time like a month, a year, or three months in a particular area. This means if around 200 houses sold in Sydney over the course of three months, the median house price for that particular area for that period of time will be the amount will be the price point that’s in the middle. If the most affordable house sold for $250,000 and the most expensive one sold for $1,250,000 and the house exactly in the middle of these two extremes sold for $750,000, then $750,000 will be the median house price.

Why Should You Care About Median House Price?

Buying a home is a big investment, possibly the biggest in your life. You need to make sure you make that investment at the right time. Many potential home buyers don’t do their research first and are forced to pay more than they needed to on the property. One of the best ways to avoid this problem is to hire a real estate agency that is aware of the current median house price in Ryde. Our real estate agents always do their research and present all the facts to you so you can make an informed decision. One of the first things they’ll discuss is the median house price. Here are some benefits of the benefits:

• The median price will give you a good indication whether the suburb or neighbourhood is within your budget. It’s not the lowest or the highest price so you can take things like negotiations, market fluctuations, future market trends etc. into account and then make a purchase.
• The listing price of most properties is calculated based on the median price along with the property size, location, and condition. This can help sellers set the right price tag on their property.

How Can Our Real Estate Agents Help?

Our real estate agents are always willing to help you understand the concept of median price and how it can help you. Here’s what we can do for you:

• Our agents will consider your budget and requirements before they recommend a list of suburbs or locations that will be the right fit for you.
• They’ll provide the list of median house price in Ryde over a period of many months or years. This will help you understand the market conditions and determine what the value of your property may be in the future.

We focus on the customer more than on profit. Just listen to what our clients have to say about our services on our testimonials page. If you want to know more about our services, just give us a call on 02 8889 3894 or contact us through our web form.