Properties in the R750k - R999 999 category are most in demand right now, followed by properties in the price range of R500k - R749k.

These are some of the findings in RE/MAX of Southern Africa's recently released South African Property Sales Activity (SAPSA) Barometer.

RE/MAX offices in all nine provinces participated in the national survey investigating national property sales activity and the current state of the South African real estate market.

Dramatic increase

92% characterised the increase in property sales activity as dramatic compared to the previous six months. 76% of RE/MAX offices recorded an increase of up to 25% in sales activity, 18% an increase of 26 - 50%, and 6% an increase of 51% and higher.

Most active price brackets

Polled on the most active property price brackets, 34% said sales activity for properties in the R750k - R999,999 category was where most movement was recorded. This was followed by properties in the price range of R500k - R749k at 23%. Homes valued below R500k constituted 13% of most active sales, and the same percentage was recorded in the bracket for homes valued between R1m – R1,5m.

% price drop

When the offices were asked to which percentage sellers can further negotiate down prices of homes, 50% said between 6 and 10% of a property's value, 24% said between 11 and 15%, and 16% said between 1% and 5% of the value.

Time taken to sell

When asked what the average period is for a house on the market before it gets sold, 32% of respondents noted it took up to three months, 24% of all offices recorded a period of four months and 14% said it can take up to six months to sell listed properties.

Reasons for selling

When polled on why South Africans are selling their homes, 37% of RE/MAX offices reported it was because owners could not afford mortgage payments, 18% of sales were due to owners upscaling to better properties whilst 13% were downscaling.

Current mindsets

Concerning what best describes the current mindset of South African buyers, 76% of offices said sellers want their asking price, and will not reduce it; 24% said they'll take any price they can get. When the RE/MAX offices were probed on the mindset of sellers, 98% of those RE/MAX offices said sellers are prepared to negotiate if sufficient factual information has been provided.

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