With buyer demand elevated, homes are selling faster nationwide compared to a year ago.
In various Adelaide suburbs, properties are being snapped up in less than two weeks.

New data from PropTrack revealed that the national median days on market, the number of days a property is listed on realestate.com.au before it is sold, was 42 days for both houses and units in August 2024.

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This was lower than a year ago, when the median was 44 days and 46 days, respectively.

In Adelaide, houses and units sold at a similar rate to the national median, at 41 days.

However, homes in certain areas in Adelaide were transacted in a notably shorter time frame.

Houses in Morphetville, Glengowrie and North Plympton sold the quickest among all Adelaide suburbs.

Their median days on market were 21, 29 and 30 days, respectively, marking the popularity of these areas with buyers.

28 Cobham Ave, Morphettville sold after just 23 days on market for $1.58m.

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For units, North Adelaide, St Clair and Lightsview had the shortest days on market in Adelaide.

They were sold in 36, 37 and 38 days, respectively.

Not only were homes snapped up rapidly in several Adelaide suburbs, but there were many that saw a significant annual decrease in the time taken to change hands as well.

Windsor Gardens, Morphetville and Glenside were among these suburbs.

Houses in Windsor Gardens and Morphetville sold 27 and 22 days faster, respectively, compared to a year ago, while units in Glenside sold 42 days faster.

21 Stanley St, Glengowrie sold after just 10 days on market for $1.2m.

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A look at national home price trends indicate strong overall demand for housing, with prices increasing for 20 consecutive months, according to PropTrack’s August Home Price Index.

With interest rates highly likely to fall by early next year, buyer confidence is expected to increase even further.

Consequently, competition for housing is likely to intensify, which will result in faster sales in sought-after suburbs.