This Week in Real Estate

With interest rates rising in February and the war in Iran into it’s 6 week I was curious to see what the statistic say has happened to the market. I looked at the number of sales and median price from the 1st March to 16th April in both 2026 and 2025. Seaforth has had 14 sales now compared to 22 last year. With the median price falling to $3,400,000 from $3,800,000. Balgowlah Heights had 6 sales in 2026 from 10 in 2025. Median prices fell from $5,200,000 to $4,200,000 in 2026. Manly was similar with the number of sales with 42 in 2026 and 64 in 2025. The median prices went up to $2,580,000 from $1,800,000 in 2025.

The timeframe is small; and it shows that buyers are tentative with less sales occurring in the current conditions and prices being softer in general. For Manly I feel the median price going up reflects less smaller 1- and 2-bedroom apartments being sold as the rise in interest rates has seen investors pause from buying. The numbers reflect what we are seeing at present. The amount of buyers at open for inspections is down 50% and buyers are more cautious. As recently mentioned the buyers we are meeting are still keen to purchase. Purchaser demand and the sale price for well positioned and presented properties is still very strong.