Figure 1 shows the number of sales and the median sales
price trends for Kanonkop. Freehold property sales prices decreased by 5.9% from
2022 to 2023. The sales volume for 2023 was 38% of the 2022 sales. Since this
percentage is lower than 50%, this indicates that fewer properties are being
sold in Kanonkop this year compared to 2022.
Figure 2 indicates that the gap between the property selling and asking prices widened from 15% to 18.6% from 2022 to 2023. This indicates that sellers were expecting sales prices to continue to grow from previous years, but this was not happening. Sellers are therefore more likely to over price their property when it is listed for sale.
Whether you plan to sell your house or would like to know
the appreciation of your property’s price, feel free to contact us for a free
valuation estimate.
