Randburg Property Trends

Randburg property trends

Let’s consider for a moment the Randburg property trends.  Over the last 5 years and thanks to P24, it’s pretty astounding when we consider the total number of properties sold in the last 5 years.  It’s also very interesting to see the differences between the asking prices and the sold prices.  Insight into the Randburg property trends will be valuable if you are considering the sale of your property.

Randburg property trends by units sold

It’s astounding to note that in the Randburg property trends for the last 5-years.  There have already been a total of 34,045 properties sold over this time.   And with under a ¼ of the year to go for 2021, Randburg property sales units for 2121 is 5,396.  This accounts for a 16% volume over the last 5-years.

Randburg property trends by asking prices

The most important thing to get right when you decide to sell is to get an accurate market-related price for your property.  What is interesting to note for 2021 is that the total average asking price for Randburg properties is noted at R1,525,250.  This is still down from the 5-year high in 2018 which is noted at R1,545,000.

Randburg property trends by sold prices

Also interesting is that when considering the Randburg property trends are the sold prices.  These are more often than not sold at below the asking price.  The average Randburg property sold price is R1,350,000.  This is a whopping R175,250 below the asking price.  This means there has been an 89% drop between the asking price and the sold prices.  And this gap is widening.

What does this all mean?

Using the Randburg property trends and when you sell your property, 1 of 2 things can happen:

  • Sellers push harder for a higher price.
  • An agent guides a seller, using extensive research to identify a correct market-related price for your property.

Make sure your property is listed at the right price. Remember there’s a drop between the asking price and the actual sales price.  Almost a 20% to 30% drop or more in some areas.

But don’t build in fat with your asking price…

In SA and certainly in the Randburg property sector it’s a buyer’s market.  This means that there is more stock on the market than there are buyers.  And right now, buyers want to buy a palace but pay for a Pandokkie.  The market is tough, and buyers are even more demanding than ever before.  A seasoned Randburg estate agent will know how to negotiate on your behalf before presenting you with an offer that is just way below a realistic or market-related price.

Pricing your property for sale in Randburg

As estate agents working for Keller Williams, we have access to the latest and greatest tools and technology to assist with the process of pricing your property in Randburg.  Let’s look at the tools that a good estate agent will follow:

  • The Lightstone Property Valuation Toolkit: This is essential to a good estate agent in Randburg, and this will provide valuable information about what buyers have paid for properties in the same area or with similar features like the size of a stand if you own a freestanding house. Or the size of a property undercover if you own a unit in a complex or estate.  We distill it all down to the cost per square meter.  We also use suburb, complex, and street reports which helps to determine the right price when you sell your property.
  • Current Property Market: This confirms what the prices are for properties on the market at the moment. We compare like with like (a 450 square meter property vs 96 square meter property).  We also tuck into the detail which highlights the features of a property.  It all comes down to the cost per square meter.  To check 2 of the most prominent property portals click here for P24 and Private Property.
  • Comparative Market Analysis (CMA): A Comparative Market Analysis (CMA) will show you all the information I have outlined above.  You will know how and where we got our numbers from.  Seasoned agents are disciplined & transparent about how we got to the numbers.  It’s not just a price range on a branded letterhead.

Who is Keller Williams?

Keller Williams is a phenomenal global real estate brand. In fact, it is the largest real estate franchise in the world.  As Keller Williams estate agents, we are not area-bound.  Our technology platform also sets us up for success.  As estate agents with Keller Williams, we get full access to all properties across areas as well.  That means if an estate agent in Randburg has a buyer from a previous listing that he has built a relationship with, this agent can share ‘YOUR’ property listing with their pre-approved buyers.  You see at Keller Williams it’s all about creating a win-win for all parties or it’s no deal.  The platforms we leverage worldwide are cutting edge.  This works for you as a seller because KW agents leverage our buyers across properties.  We share and our business model supports it.

Estate Agents – want to know more about KW?

Keller Williams (USA) is a top real estate brand to work for.  If you are an estate agent and want to know a little more drop me an e-mail.   If you would like to leverage world-class technology to the benefit of all our stakeholders across the value chain and end up with a win-win every time, then let’s touch base.  Also, read what makes Keller Williams the best!

Thinking of getting a free property valuation in Randburg?

Simply put, Keller Williams concludes more transactions globally than anyone else because of their business model.  If you need a free property valuation in Randburg or the greater JHB or anywhere within SA, Keller Williams can assist.  Our vast network of almost 1,500 agents countrywide makes the job of connecting buyers and sellers with ease.  It’s all about the technology and the platforms we have access to that help us sell your property faster.

Get in touch

So, if you need a valuation done on a property anywhere in Randburg or elsewhere in Jhb, we can help.  Give us a call on telephone number (064) 549-3123.  Alternatively, drop us an e-mail at kwselect@kwsa.co.za.  We have a vast network of almost 1,500 top Keller Williams agents at our fingertips who are all just dying for the opportunity to partner with you to sell and conclude your property transaction in record time.

If you want to view all the Keller Williams properties across the country, click on our website to start the search for your dream home.  Need help getting a pre-approved homeloan, it’s free and our strategic partners will find you the best rate over 20 years!  And finally, if you are thinking of putting your property on the market and need a free property valuation, click here!

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