Just sold: 11 Bainton Crescent, Melba. A spacious 6 bedroom, 3 bathroom split-level home perched on the side of Mt Rogers Reserve, with views across Canberra. It sold for $1,410,000.
Watch Steve explain how 11 Bainton Crescent sold. .
A classic split-level with a view
The home had the split-level design many buyers love: garage and studio underneath, main living areas above to make the most of the outlook. The kitchen had been tastefully renovated, and flooring and bathrooms had been updated over the years.
When the market wobbled
By our standards this was a tricky sale. We launched in April, and shortly afterwards a run of events knocked buyer confidence: conflict escalating in the Middle East, diesel hitting $3.30 a litre, the Reserve Bank lifting interest rates, and the federal budget on top.
The pool of active buyers shrank almost overnight. The offers that did come forward sat around $1.2 to $1.3 million, from buyers looking for a bargain. Who could blame them?
Holding our nerve
We encouraged the owners not to rush into a decision. We believed conditions would improve and that the home was worth waiting for. By mid to late May, numbers at open homes increased significantly, and three serious buyers began competing. After careful negotiation, we secured $1,410,000, well above the offers on the table earlier in the campaign.
Not every buyer suits every home
Some buyers wanted a higher level of renovation, others wanted a flatter block or different landscaping. The right buyer was out there; the job was to be ready when they arrived.
The lesson for Melba sellers
Timing, strategy and patience can make a six-figure difference. Accepting a low offer in a nervous week is a decision a seller lives with for a long time.
Common questions from sellers in Melba
Should I accept a low offer when the market is uncertain?
Not automatically. At 11 Bainton Crescent, early offers of $1.2 to $1.3 million were declined and the home later sold for $1,410,000.
What do buyers in Melba want?
It varies. Some want a renovated home, others a flat block. Split-level homes with views have a strong following.
How long should I wait if the market slows?
It depends on your circumstances and the evidence. We watch open home numbers and buyer activity closely and advise when conditions are turning.
What are homes in Melba worth now?
We regularly meet buyers looking in Melba and surrounding suburbs. Book a market update for an honest view of where your home sits.
See the full story for 11 Bainton Crescent →
Thinking about selling?
Whether you're ready to sell or just curious about what your home is worth in today's market, we'd love to help.
Book a sales strategy session →
Get a market update for your home | Call Steve on 0489 276 122
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