The Mackay single-family housing market has experienced a period of growth and stability in the past two years. While the national market shows signs of a slowdown, Mackay appears to be holding its own.
Key Metrics:
Average Sales Price: Based on data from reputable sources like realestate.com.au and CoreLogic, the average sales price for a single-family home in Mackay currently sits around $398,000 (AUD) for the period April 2023 - April 2024.
Months of Inventory: This metric indicates the average time it would take to sell all currently listed properties at the current sales rate. A healthy market typically has 4-6 months of inventory. In Mackay, the current months of inventory is likely between 4-6 months, suggesting a balanced market.
For Sale
See the latest listing.
A
Absorption Rate: This represents the rate at which available properties are being sold. A higher rate indicates a strong seller's market. While specific data for Mackay's absorption rate isn't readily available, the low months of inventory suggests a relatively fast absorption rate.
Trends Over the Past 2 Years:
Price Growth: Over the past 24 months, Mackay's single-family home prices have seen an increase of approximately 9.0% (realestate.com.au data).
Inventory Fluctuation: While specific data isn't available, anecdotal evidence suggests a decrease in available listings in the past year, potentially due to strong buyer demand.
Sales Activity: Sales activity is likely to have remained steady or slightly increased over the past two years, keeping pace with price growth.
Predictions for the Next 2 Years:
Market Stability: While the national market may cool down, Mackay is expected to experience continued stability with potentially moderate price growth (around 3-5% annually). This prediction is based on the region's economic resilience, driven by mining and infrastructure projects.
Inventory Levels: Inventory levels may remain relatively low due to continued buyer demand and a lack of new construction.
Sales Activity: Sales activity is expected to remain steady or potentially see a slight decrease as affordability becomes a concern for some buyers.
