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Sydney houses and units selling faster: RP Data

The amount of time Sydney dwellings are spending on the market has shortened considerably, according to the latest information from RP Data.

Figures for the week ending March 3 showed Sydney houses and units were spending an average of 66 days and 49 days on the market respectively.

However, figures for the week ending March 10 showed Sydney houses were spending an average of 50 days on the market, and Sydney units an average of 38 days.

timeonmarketmarch12

'Time on market' (TOM) is the average number of days between when a property is first listed for sale and the contract date.

The statistics are calculated across results received by RP Data over the past week and include properties transacted over the past four weeks. The data is based on private treaty sales only and records without a valid sale price have been excluded from the vendor discount analysis.

The analysis also excludes results where there are less than 10 observations.

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