As of 2022, the average time for a property to be on the market in South Africa is around 8 weeks.
However, don’t be disheartened if you haven’t sold your property within this period of time. Four months is a realistic waiting period, and the average time may gradually increase as time goes on.
Properties are selling quicker than the long-term average in South Africa, as pent-up demand is being unleashed in the post-pandemic period.
Many South Africans are looking to upgrade to bigger homes as they adapt to the new work-from-home lifestyle.
If you’re a buyer, you should check how long a property has been on the market before making an offer. If it’s been on the market for a long time, ensure this is not a result of issues with the property.
When you’re ready, you can apply for a home loan with ooba Home Loans.