Just sold: 39 Mockridge Crescent, Holt. A 4 bedroom, 2 bathroom home with a double garage on an 828m² corner block. It took longer to sell than anyone wanted, drew more than 80 buyer inspections, and finished in a multiple offer situation. Here's what happened, and what it means if you're thinking about selling in Holt or the surrounding Belconnen suburbs.
What the Holt market looked like
Buyers had plenty of choice. Nearby, a number of equivalent homes were selling for less than their owners anticipated, and after 3 rate rises, many buyers had less borrowing capacity than they did a year earlier. In that kind of market, a good home can still take time, because buyers compare everything.
80+ inspections and one consistent piece of feedback
Over 80 buyer groups came through. The feedback was remarkably consistent: for most families, the bedrooms were too small for older kids. That's not something you can renovate halfway through a campaign, so the job became finding the buyer for whom the home, the block and the location outweighed it.
Why we declined three offers
Offers did come in: $800,000, $830,000 and $850,000. Each time, the evidence said there was more in it, so we declined all three. It wasn't an easy call when the campaign was running longer than hoped, but accepting a price that doesn't reflect a home's value is a decision a seller lives with for a long time.
The one change that brought buyers back
When the campaign stalled, we made one change: we adjusted the pricing. It reinvigorated the campaign, interest picked up again, and it ended in a multiple offer situation. The final price is in the video above, along with how it compares with recent sales nearby.
The lesson for Holt sellers
Adjusting your price isn't the same as accepting less. When the timing and the evidence are right, a pricing change can bring buyers back and create competition, and competition is what decides the final number. The skill is knowing when to hold firm and when to adjust.
Common questions from sellers in Holt
How long does it take to sell a house in Holt right now?
It depends on the home and the price, but with buyers having more choice, some campaigns are running longer than they did a year ago. 39 Mockridge Crescent took longer than usual; the right pricing decision is what brought it to a close.
Should I accept an early offer?
Only if the evidence says it reflects your home's value. We declined three offers on this home because comparable sales and buyer activity pointed to more.
When should I adjust my asking price?
When the campaign has had enough exposure for the feedback to be clear, and the evidence shows the price is what's holding buyers back rather than the presentation or the marketing.
What are buyers in Holt looking for?
Families are a big part of the market, and bedroom size came up again and again at this home. Knowing what buyers value helps set the right price from the start.
Thinking about selling?
If your home has been on the market longer than you expected, or you're weighing up an offer that doesn't feel right, we'd love to help.
See the full story and recent comparable sales →
Book a sales strategy session | Get a market update for your home | Call Steve on 0489 276 122
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