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SELLERS REPORT

Q3 2023

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EXECUTIVE SUMMARY

Welcome to REID's Q3 Sellers Report! The following is an overview of the properties analyzed by REID in Q3 of 2023. The second of our four-part Q3 reports, the data selected is geared towards sellers. In this report, REID will introduce clearance rates, discount rates, and price distribution. Bali’s clearance rate in Q3 was relatively low at 14.9%, while the discount rate hovered close to 0%. Both data points tell two different sides of the same story; read on as we dive deeper into this market data and zoom into specific regions.

CLEARANCE RATE
BY SIZE

  • Clearance rate is defined as the percent of listings sold compared to total listings on the market. This value represents the rate of movement on the market, which helps paint a picture of market supply and demand. 

  • Three-bedroom properties, the most common size unit on the market, are one of the best performing categories at a 16% clearance rate. 

  • With the exception of 6-bedroom properties, leaseholds consistently outperform freehold sales.

LEASEHOLD SALES VOLUME BY SIZE

LEASEHOLD CLEARANCE RATE BY REGION

  • While Gianyar’s relatively high clearance rate is impressive, it’s important to recall from our Q3 Buyers Report that this region only represents 6% of the market supply.

  • Central Badung & Mengwi were the only regions performing under the market clearance rate of 12.3%. 

  • Despite the overall health of the residential property industry in Bali, clearance rates are generally low indicating what would be considered a buyers market.

MARKET CLEARANCE RATE

LEASEHOLD CLEARANCE RATE BY REGION & SIZE

  • Percentages shown in dark green represent above market clearance rates, while those shown in light green represent below market clearance rates.

  • Four-bedroom properties are the stand out category, consistently out performing the market across most regions.

  • The dominance of North Badung in supply of properties has not converted into property movement with only 1 & 3 bedroom categories out performing the market.

ABOVE MARKET MEDIAN

BELOW MARKET MEDIAN

NEW LISTING SUPPLY BY SIZE

MARKET SUPPLY
BY SIZE

  • The most common size for sale in both leasehold and freehold properties is 3-bedroom units, which made up 31% of the market. 

  • Properties of 2, 3, and 4-bedroom sizes made up 75% of the leasehold market. 

  • As size increased, so did freehold market share (from 12% for 1-bedrooms up to 57% for 6+).

LEASEHOLD SUPPLY

FREEHOLD SUPPLY

LEASEHOLD SUPPLY
BY REGION

  • As REID suspected in our Q3 Buyers Report, established regions like North Badung, Central Badung, and Gianyar stabilized in market share. 

  • Interestingly, developing regions like Mengwi and Tabanan also remained the same, indicating market stability. 

  • Because of the overwhelming amount of data in Badung (83% of all leasehold supply), REID chose to divide this regency into 4 smaller regions – North Badung, Central Badung, South Badung, and Mengwi.

SUPPLY
BY REGION & SIZE

  • The supply of leasehold listings for sale broken down by size and by region is presented here. 

  • The most common type of property for sale in Bali is a 3-bedroom in North Badung, of which there were 728 in Q3, closely followed by 2 and 3-bedroom properties in the same region. 

  • Despite buzz around South Badung in the second half of 2023, Mengwi remained a slightly larger presence in the market.

MEDIAN LISTING TO SALE PRICE

LEASEHOLD MEDIAN DISCOUNT RATE BY REGION

  • Discount rate is the percent change between sold price versus listed price. If positive, the property was sold for more than it was listed. If negative, the property was sold for less than it was listed. 

  • Central Badung is the only region where properties on average were sold for more than they were listed (from $335,114 to $358,596, an increase of 7%). 

  • As mentioned in our Q3 Buyers Report, limited sales in Denpasar for Q3 skewed the median discount rate. For this reason, REID has chosen to omit it from this chart.

LEASEHOLD MEDIAN DISCOUNT RATE BY REGION & SIZE

  • Demonstrated here is the relationship between listing price and sold price. 

  • Above market median discount rates are shown in dark green, while below market median discount rates are shown in light green. 

  • Mengwi, a region identified by REID as emerging, has a discount rate below market median for almost every property size. This indicates that listing prices for this region may be overpriced.

ABOVE MARKET MEDIAN

BELOW MARKET MEDIAN

PRICE DISTRIBUTION

LEASEHOLD PRICE DISTRIBUTION BY REGION

  • Over 65% of sales in the market occur below $500,000. Diving deeper, each region tells its own story. 

  • If the price distribution is balanced, this indicates that the price point of supply matches what buyers are willing to spend. 

  • The market primarily operates below $1M; for this reason, REID focuses on below $1M listings in this report. Contact us for more data regarding luxury properties.

CENTRAL BADUNG

DENPASAR

GIANYAR

MENGWI

NORTH BADUNG

SOUTH BADUNG

TABANAN

OTHER

THANKS FOR READING!

Looking for a specific neighborhood or data point? Contact us to learn more.

REID releases quarterly reports to provide a range of market information across different segments, click below to see our other Q3 reports:

 

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