When the market slows, buyers get more time.
Not always a better price, but more time, and time is where good decisions get made.
Across South East Queensland, conditions have eased this year. Fewer buyers are turning up to every open home, and more homes are sitting on the market for longer.
For families, that changes how you should approach a purchase.
Days on market tells you more than the price guide
A home that has been listed for 45 days is a different conversation from one that came on last weekend.
The question is not simply how long it has been listed. It is how that compares with similar homes in the same suburb right now. A family home in a tightly held pocket might be slow at 30 days. Somewhere else, 60 days is normal.
Read the listing history
Before making an offer, we look at:
- Days on market compared with similar homes nearby
- Any price changes since it first listed, and when they happened
- Whether it has been listed before, and at what price
- Whether it went to auction and did not sell
- How the marketing campaign has changed along the way
Each of these tells you something about where the vendor's expectations sit today, compared with where they started.
Understand why they are selling
Price is only one part of what a vendor wants.
A family who has already bought elsewhere may care most about a firm contract and a settlement date that lines up with theirs. A downsizer may want a longer settlement. An estate may simply want certainty.
The selling agent will not always tell you everything, but asking good questions, and listening properly to the answers, often reveals what matters most.
Terms can be worth more than dollars
In a quieter market, terms carry weight.
A longer or shorter settlement to suit the vendor. A clean contract with finance already approved. A shorter due diligence period, once you have done your homework up front.
A strong offer is not always the highest number. It is often the one that makes the vendor's next step easiest.
Do not skip the checks
A slower market does not make a home a bargain. It just gives you room to do the work properly.
For a family home, that means the building and pest inspection, the flood and overland flow report for the exact address, the school catchment for the exact address, and a clear view on what surrounds the property and what could change nearby.
The time pressure is lower right now. Use it.
What we work through here
- How this home's time on market compares with the suburb
- The full listing and price history
- The vendor's likely priorities, beyond price
- Terms that strengthen your offer without adding to it
- Due diligence completed before you commit, not after
In a quieter market, the buyers who do their homework are the ones setting the terms.
If you are looking for your next family home, by all means get in touch and we can talk it through.
Written by Jack Freestone, Buyers Collective