When a property doesn’t sell in the first week, the first month, or under the hammer at auction, there’s usually one conclusion people jump to:
It must be overpriced.
And sometimes, that’s absolutely the answer.But sometimes there’s another, much simpler explanation.
Maybe we just haven’t met the right buyer yet.
Over the past couple of weeks, I’ve seen this play out firsthand. One property that passed in at auction a couple of months ago has now sold for around 10% more than the offer made on auction day.
Another property has recently attracted interest around 10% higher than the most recent offer we had received.Same properties. Different buyers.
Different circumstances. Different timing.I heard a Sydney agent make a comment recently that summed this up perfectly:
“The market value of a property isn’t 3pm on a Saturday.”
He was talking about an auction where the guide was $5 million. One buyer registered and offered $4 million. A few weeks later, the property sold to an entirely different buyer for $5 million.
The point isn’t that auction results should be ignored, or that sellers should simply hold out indefinitely for a price that may never come.
It’s that one moment doesn’t necessarily define the entire market.
A buyer might need to sell their own property first. They might be relocating to Newcastle next month. They may not have even started looking when your campaign launched.
Sometimes the property and the right buyer simply haven’t crossed paths yet.
The Market Has Changed
None of this means ignoring what has happened in the broader market.
Demand has changed. Days on market have stretched.
Buyers have become more selective and price-sensitive, and sellers have had to adjust their expectations accordingly.Interestingly, I heard another high-volume Sydney agent discussing this recently. His observation was that turnover is beginning to improve because sellers have recognised the adjustment and are now bringing properties to market at levels where buyers can immediately see value.
His view is that their market may have found its bottom, bringing some stability back and giving buyers greater confidence to make decisions.
Whether we’ve reached that point locally will become clearer with time, but the principle is important.
Price matters. Timing matters. Presentation matters. But so does finding the buyer whose circumstances match the property.
That’s why data is particularly important in a changing market. Newcastle and Lake Macquarie can be incredibly sensitive to property type, location and price point, and broad market headlines rarely tell the whole story.
An experienced agent needs to interpret that data, understand what buyers are actually doing and make sure the campaign gets off on the right foot — while also knowing when the strategy needs adjusting and when it simply needs a little more time.
Because sometimes the answer to “Why hasn’t it sold?” really is:
We just haven’t met the right buyer yet.
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Amazing agent! . Luke is extremely professional and knowledgeable. He takes his work very seriously. We knew we were in good hands and could trust and rely upon him throughout the process to achieve a wonderful outcome for us selling our loved family property. We cannot recommend Luke enough!!
Luke is humble, kind and a skilled negotiator. We have found him to be a standout human in an industry that's not highly regarded. It can be difficult to know who to trust - we can trust Luke and Murdoch Property - he's not flashy & genuinely cares.
Highly recommended. Luke's approach to selling is friendly yet very professional, consistent, prompt and thorough in his communication. He made the process so much easier than we imagined and provided much needed support and advice that helped achieve the sale. His Newcastle market knowledge was outstanding and communicated in an easy to understand manner. Back office support from Diana was also greatly appreciated. I highly recommend Luke and his team to anyone seeking to sell their home.
Calm, Professional and Trustworthy from Start to Finish. Selling our property was a significant decision, and I am so grateful I had Luke Murdoch guiding me through the process. What I appreciated most about Luke was his calm and steady nature. No matter what was happening, he remained approachable, level-headed, and reassuring. He took the time to explain things clearly, answered my questions honestly, and never made me feel like I was a bother. Luke is incredibly knowledgeable, but what sets him apart is the way he combines that knowledge with genuine care for his clients. He was always accessible, kept me informed throughout the sale, and regularly went above and beyond what I expected from a real estate agent. Selling a home can be stressful, but Luke's professionalism, patience, and even temperament made the whole experience feel much easier. He's not only an excellent agent but also an all-round good guy who genuinely wants the best outcome for the people he works with. I wouldn't hesitate to recommend Luke to anyone looking to sell their property.
Luke was fantastic throughout the entire process of purchasing our home. His communication was excellent from start to finish, always keeping us informed and happy to answer any questions we had. He was honest, professional, and genuinely easy to deal with, which made the whole experience much less stressful. What stood out most was his integrity and straightforward approach. We always felt like we were getting honest advice, and he went above and beyond to ensure everything ran smoothly. I would highly recommend Luke to anyone looking to buy or sell a property. A great real estate agent and an all-round good bloke.
“5 STARS” are just not enough …! We hadn’t sold or purchased a property in over 25 years - so the prospect of selling was daunting. From the start however, Luke made the process extremely streamline - explained the process, and what to expect. Luke has a very fine tuned selling process which saw our investment property - photographed, on the website and open houses within 2 weeks we had ample offers to make a decision after this short period - which was based On Luke following up all offers ensuring they had finance etc approved. We had a tenant who had just moved out of this property - and Luke was extremely patient and informative of his processing the sale of our property to the tenant. this ensured a very smooth transition to selling the property vacant.
Can’t recommend Luke enough his manner and professionalism filled me with confidence.. he made it a stress free sale
An easy experience from start to finish . Luke is straight forward, professional and a great communicator. His knowledge of the Newcastle market is extensive and good to to have when you are making big decisions. I bought and sold simultaneously with Luke and the process was smooth and hassle-free.