This time last year, 21 Lumsdaine Ave, East Ryde, would have sold for $1.5 million, says agent Fred Jabbour.
The four-bedroom two-bathroom red-brick house with a 19-metre frontage is on the market for $1.28 million after it passed in at an early December auction on a guide of $1.38 million to $1.45 million.
Although he is still officially on holidays, in the past week the First National – Ryde agent has been busy following up numerous phone and email inquiries on the property, which will be open for inspection this Saturday, January 19.
“The tables have turned and it’s a great time to buy,” Mr Jabbour said.
“People are now buying and selling in the same market.”
Mr Jabbour said calls were coming in from buyers keen to either renovate or knock down and rebuild.
A property at 17 Torrington Drive, Marsfield, is also receiving a lot more attention in the new year.
The three-bedroom one-bathroom house on 575.4sqm was listed in late November for $1.495 million. This price has since been adjusted to $1.425 million.
Allison Mifsud from First National Epping also interrupted her holiday to field a fresh batch of buyer inquiries.
“It’s a fair price for a basic three-bedroom one-bathroom house,” Ms Mifsud said.
Ms Mifsud said the property would have been snapped up by an investor and probably rented for student accommodation had it been listed two years ago.
In the current market, the buyer profile has changed.
“It would appeal to a young family wanting access to the schools or Macquarie University, or it could be an investor who wants to buy it for a family member attending uni,” Ms Mifsud said.
She said the lack of a fourth bedroom and a second bathroom deterred some buyers but the property was neat-as-a-pin.
“And there’s the potential to add a granny flat as the next door neighbour has done,” she said.
Ms Mifsud said a shortage of new listings was bringing buyers back to open inspections in greater numbers compared to late last year.
A new listing at 7/144 Ryde Rd, Gladesville, has a private treaty price guide of $1.150 million.
Nicole Robertson from BresicWhitney Hunters Hill said her vendors had priced the property “realistically”.
The three-bedroom two-bathroom corner townhouse is in a complex of seven.
Mr Robertson said 14 groups attended the first open inspection last weekend.
“That’s a good number and a pretty good start to the year,” Ms Robertson said.
The property goes to auction on Saturday, February 9.
In Carlingford, two almost-new duplexes are each for sale for $1.45 million.
The properties at 11 and 11a Homelands Ave are on Torrens titles and each has four bedrooms and three bathrooms.
Margot Brattoli from Showcase Realty – Carlingford said the duplexes were more than fairly priced in the new ‘normal’ market.