This is the third article in our weekly series on real estate advertisements in the Townsville market. In this post, we look at the Methods Of Sale being used in real estate advertisements in 2023W07.
Apcree’s mission is “Real Estate. Automatic”. To achieve this, we report on the very first leading indicator of the real estate market – the real estate advertisement. Most real estate agents report on what has been sold, which only provides information on where the market has been – not where it is going.
We collect digital real estate advertising data daily and create a set of summary statistics every week. You are now reading our weekly “Suburb Report” which is the second of five reports we produce on Townsville real estate advertising every week. Learn more about what statistics we produce and why here Real Estate Advertising Reports
About the Publisher
Now all these statistics, visualisations and text takes a lot of work. In the North Queensland region alone we track about 700,000 data points per week. Our pencil sharpeners and calculators wore out a long time ago! We make extensive use of Natural Language Processing (AI) to generate content around the statistics. This technology is cutting edge, so the wording might not make sense to everyone all the time – if you need some further information we are working on a customer support service in the future.
Townsville Real Estate Advertising – Method of Sale Report
Our latest weekly Summary Report came out yesterday, you can see past editions by clicking here. A quick recap of this week’s main real estate advertising statistics is below.
Overall number of listings this week
Townsville had 11,403 real estate advertisements published in 2023W07.
Comparison to number of listings last week
Advertisements are tracked every day of every week. This means variations to previous periods can be calculated, following are some of these variations.
Advertisements compared to last week : [‘-132’, ‘-1.1%’]
Advertisements compared to all time average : [‘+11,260.15’, ‘+7,882.7%’]
We will look more closely at the specific Methods Of Sale being deployed below.
The “Price Or No Price” Question
One of the big questions facing sellers is whether to set a price for their property, or let the market dictate terms. This is a situation relatively unheard of in other industries, and one that adds considerable time to the sale process. If the market dictates a price for the property that is higher than expectations, this extra time on market may be very lucrative.
Buyers typically prefer transparency. There are many tasks to be completed in buying a property (financing for example) and adding the task of a price appraisal to the list can turn many away. Also, the oft-used phrase “If you have to ask, you can’t afford it” can preclude buyers from investigating a property with a concealed or unclear price.
Below we look at real estate advertising data and how the Townsville market is addressing the question of pricing real estate.
Sale Price Listed Trends
Over the past quarter ending 2023W07, the proportion of real estate advertisements with a list price has varied between 28.8% and 30.4%.
Sale Price Listed by Suburb
We looked at where list prices appear the most often, and the least often.
Five suburbs with list price shown most often :
| totaladverts | priceslisted | proportion | |
|---|---|---|---|
| suburb | |||
| BARRINGHA | 14 | 14 | 100.0% |
| REID RIVER | 7 | 7 | 100.0% |
| HORSESHOE BAY | 181 | 146 | 80.7% |
| ARCADIA | 28 | 21 | 75.0% |
| JENSEN | 468 | 343 | 73.3% |
Five suburbs with list price shown least often :
| totaladverts | priceslisted | proportion | |
|---|---|---|---|
| suburb | |||
| MUTARNEE | 7 | 0 | 0.0% |
| HERVEY RANGE | 21 | 0 | 0.0% |
| CALCIUM | 7 | 0 | 0.0% |
| GUMLOW | 14 | 0 | 0.0% |
| PINNACLES | 7 | 0 | 0.0% |
Sale Price Listed by Property Type
Suburbs with slow moving markets, or high numbers of specialised or unique properties, often advertise listings without list prices.
| totaladverts | priceslisted | proportion | |
|---|---|---|---|
| propertytype | |||
| newhomedesigns | 14 | 14 | 100.0% |
| terrace | 14 | 14 | 100.0% |
| newland | 105 | 84 | 80.0% |
| rurallifestyle | 14 | 7 | 50.0% |
| rural | 105 | 49 | 46.7% |
| acreagesemirural | 191 | 80 | 41.9% |
| vacantland | 1904 | 693 | 36.4% |
| newhouseland | 462 | 154 | 33.3% |
| duplex | 84 | 27 | 32.1% |
| blockofunits | 145 | 44 | 30.3% |
| apartmentunitflat | 1941 | 559 | 28.8% |
| house | 6183 | 1675 | 27.1% |
| townhouse | 127 | 28 | 22.0% |
| semidetached | 35 | 7 | 20.0% |
| specialistfarm | 14 | 0 | 0.0% |
| studio | 7 | 0 | 0.0% |
| developmentsite | 28 | 0 | 0.0% |
| farm | 14 | 0 | 0.0% |
| newapartments | 7 | 0 | 0.0% |
| villa | 9 | 0 | 0.0% |
Advertising Collateral
Our purpose is to analyse trends in real estate advertising. The format and supporting information provided in a real estate advertisement indicates how expensive the advertisement costs to produce. It gives an indication of how effective vendors believe advertising collateral will be in influencing the sale of the property.
Proportion of Advertising Collateral
If the cost to produce advertisements is droppping, it indicates vendors are not seeing a return on their advertising production cost. The market is looking through quality collateral for value in the underlying deal. The following chart shows the volume of advertising collateral used over the last quarter.
Over the last quarter 37.7% of real estate advertisements in Townsville have a floor plan and 14.3% of real estate advertisements have a video
Media Count per Advertisement
Another indicator of advertising production cost, and therefore a gauge of market sentiment, is the volume of image media attached to an advertisement. A large volume of media attachments indicates a more bullish market as buyers are more open to influence.
Over the past quarter real estate advertisements have 4.65 images attached to the real estate advertisement.
This week, real estate advertisements have 4.63 images attached to the real estate advertisement.
When comparing this week’s average real estate advertisement media to the previous quarter, media counts are down 0.47%.
Agencies & Brokers
Different real estate agencies and individual brokers tend to use the same method of sale in selling real estate. However, different properties generally need different methods of sale. We analyse methods of sale that each agency and broker tends to utilise in their real estate advertisements.
Agency Focus
Over the past week, Townsville real estate agencies tend to use the following methods of sale in their real estate advertising.
- The agency with the highest proportion of Auction advertisements in 2023W07 is : Ian Clarke Real Estate had 80 adverts, 28 auctions (35.00% rate)
- The agency with the highest proportion of Open For Inspections advertisements in 2023W07 is : SGA Sales had 22 adverts, 22 open for inspections (100.00% rate)
- The agency with the highest proportion of List Price advertisements in 2023W07 is : Stockland had 1 adverts, 1 prices listed (100.00% rate)
Broker Focus
Over the past week, individual Townsville real estate brokers have tended to use the following methods of sale in their real estate advertising.
- The individual broker with the highest proportion of Auction advertisements in 2023W07 is: Ian Clarke had 80 adverts, 28 auctions (35.00% rate)
- The individual broker with the highest proportion of Open For Inspections advertisements in 2023W07 is : Ricardo Baggio had 7 adverts, 7 open for inspections (100.00% rate)
- The individual broker with the highest proportion of List Price advertisements in 2023W07 is : Brad Read had 7 adverts, 7 prices listed (100.00% rate)
Other Real Estate Advertising Reports
This Method Of Sale Report isn’t the only real estate advertising report that we produce. You can also see our:
Weekly Property Details Reports
For more details of the specifics of this report, take a look at this article on Real Estate Advertising Reports
About the Publisher
Apcree is a start-up property technology firm based in Townsville, Queensland. Our real estate statistics are managed by one of North Queensland’s most qualified and experienced property economists. The algorithms used to generate our statistics ensure they remain independent and unbiased.
Acknowledgements
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