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Isle of Capri Market Wrap | February & March 2022

March 30 2022

The Isle of Capri residential real estate market has maintained steady momentum during the first quarter of 2022 with strong sales results driven by low stock levels and local buyer demand.
Isle of Capri Market Wrap | February & March 2022

The Isle of Capri residential real estate market has maintained steady momentum during the first quarter of 2022 with strong sales results driven by low stock levels and local buyer demand.

The number of new properties coming to market has been extremely low in the first three months of the year, with homeowners in the tightly-held enclave more likely to stay put without a clear reason to sell.

The popularity of Isle of Capri combined with low stock levels have contributed to stellar sales results across the past six months.

Eddie Wardale set the price pace for Isle of Capri in the final quarter of 2021 with the $9,501,000 sale of 77 The Promenade under the hammer.

Kollosche followed that up with the $3,350,000 sale of 97 Gibraltar Drive, Isle of Capri in November and the $3,100,000 sale of 20 La Spezia Court in February this year.

Noteable key sales in Q1 2022 by Eddie Wardale:

Interest in Isle of Capri has largely been driven by local buyers who understand the value of the area and appreciate the proximity of this premier location.

Local buyers are looking forward to the completion of the Isle of Capri bridge while the ever popular Capri on Via Roma and Harris Farm Markets are a magnet for those with a taste for gourmet eats and boutique shopping.

As we move into the cooler months, buyers are likely to be somewhat less emotional and more logical with their offers. The fear of missing out that fuelled unprecedented price growth over the past two years is slowly being balanced out by a fear of overpaying.

Talk of rising interest rates and a looming Federal Election are all contributing to less frenzied buyer activity than we saw towards the end of last year. A shift in auction clearance rates and days of market could also see some leverage swing back to buyers.

For those considering selling in Autumn, it is more important than ever that your property asset is positioned, presented and priced correctly in order to achieve a premium sale price.

Reach out to Eddie Wardale and his team for a conversation on the best strategy for your property in the current market.

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