Compare Your Simon’s Town Valuation to Your Suburb’s Market Value. Find the Selling price, the price per square meter of floor area, the time it took to sell
August 30, 2007 – 6:55 pm | by JohanNew Here? You’re Invited To Simon’s Town News Updates Subscribe here.
After I reading the article on how SARS can use your flawed municipal valuation I realized that as a home owner you may want to compare the value of your property to other properties sold in Simon’s Town during the last 12 months (Aug 2006 to July 2007 from RPPR.co.za).
The table below has all the comparative figures for your suburb.
A few of the findings from the study:
- Seaforth is our most expensive suburb with an average selling price R12 2991 per square meter of floor space and an average selling price of R2.678 million with Murdock Valley second at R11 594 per square meter at selling price of R2.438 million. (Please note: Rocklands were not included and only one house was sold in Castle Rocks).
- It took on average 5.6 months to sell a home in Admirals Kloof and Murdock Valley. Seaforth came out tops again as it took just more than 2 months to sell.
- Simon’s Town owners in Murdock Valley and Simons Town suburb either had a flawed opinion of the value of their homes or they were let down by their estate agents because they had to discount their homes by an average of R224 000 and R245 542 respectively, before it sold.
- The most expensive per square meter of floor space property was sold in Seaforth at R18 667. Next was a home in Simon’s Town at R15 427 per square meter. At the moment there are some homes and flats where the owners are trying to sell their properties for R18000 per square meter. All I can say is that you’ll wait a long time.
Let’s get back to your property valuation. You can compare to the municipal valuations using the table below. I suggest your suburb’s averages with your home.
You can also get a fairly good idea of your properties value if you multiply your suburbs average selling price per square meter with the floor space of your home. Please note there are factors that will affect it. If you are an optimist then use the max value but I will not recommend it.
Wishing you a lovely day
Johan Horak
P.S. When you need a Simon’s Town real estate agent who knows what’s going on then call me anytime for free advice. Tel: 021 786 4028 or Cell: 082 870 2004
|
Suburb (no of properties sold) |
Avg. Selling Price |
Discount |
Time to sell avg. days |
Square meter selling price (max) |
|
Simon’s Town (30) |
R2 028 000 |
R245 542 |
165 |
R10 500 (R15 427) |
|
Admiral’s Kloof (4) |
R1 988 000 |
R138 203 |
173 |
R9 636 (R12 500) |
|
Froggy Farm (6) |
R2 362 000 |
R164 203 |
127 |
R9 979 (R11 571) |
|
Glen Cairn (10) |
R1 331 000 |
R138 094 |
120 |
R9 653 (R11 428) |
|
|
R1 451 000 |
R159 432 |
94 |
R7 980 (R12 291) |
|
|
R2 438 000 |
R224 000 |
171 |
R11 858 (R14 736) |
|
Seaforth (7) |
R2 678 000 |
R192 311 |
64 |
R12 291 (R18 667) |
|
Welcome Glen (16) |
R1 014 000 |
R100 286 |
99 |
R6 947 (R9 210) |
SimonsTownRealty: Sell, Buy A Simon’s Town Property? Phone Today 021-7864028 or 082 870 2004
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December 28, 2007 at 11:37 am
[...] agree fully with Ingrid and Simon’s Town Property owners can use the following to establish a reasonable value for ...