Core Insights - Zillow's September 2025 housing market report indicates an unexpected surge in real estate activity during a typically slow season, driven by a dip in mortgage rates and a strong stock market [1][4] - New listings increased by 3% year over year in September, reversing a 3% decline from the previous month, while monthly listings dipped by only 2%, outperforming the historical average of a 9% decline [1][2] Inventory and Market Dynamics - Total inventory decreased by 1% from August to September but is 14% higher than the same period last year [2] - The balance of power is shifting, with 15 of the 50 largest metropolitan areas now classified as buyer's markets, up from six last year [2] Buyer and Seller Markets - Zillow's heat index identifies the top buyer-friendly metropolitan areas, while seller-leaning markets remain competitive due to limited housing supply and restrictive land-use regulations [3] - The best seller's markets include major cities such as Miami, New Orleans, Austin, and San Francisco [6] Economic Indicators - The average 30-year fixed mortgage rate has dropped to approximately 6.19%, the lowest point of 2025, contributing to improved affordability [4] - Existing-home sales reached a seven-month high in September, indicating a potential thaw in the housing market rather than overheating [4][5] Future Outlook - Zillow's economists anticipate that the "unseasonably active" fall will extend into the holiday season, fueled by easing borrowing costs and pent-up demand [5] - This period may represent the first significant opportunity for buyers in nearly three years [5]

Core Insights - The Sydney real estate market is experiencing significant differentiation, with some buyers benefiting from lower mortgage rates and rare price discounts on properties [1][3] - Many buyers are closing deals at prices 10% below the listing price, saving over 100,000 AUD, which is uncommon since the COVID-19 pandemic [3][5] - Certain areas, particularly central Sydney apartments and detached houses along train lines, are identified as "high discount zones" where buyers have increased bargaining power [3][10] Market Trends - SuburbData's analysis indicates that Merrylands West and Rosebery are areas with particularly high discounts on apartment sales, with discounts averaging 15% and 13% respectively [4] - In contrast, the average discount for private treaty sales across Sydney is only 1-2%, while auction prices typically exceed price guides [5] - Buyers in areas like Hurstville, Epping, and Surry Hills are purchasing apartments at an average of 10% below the listing price, while Rockdale buyers are seeing discounts close to 9% [5] Buyer Sentiment - Recent buyers have expressed disbelief at the favorable prices they are securing, with one buyer in Rockdale feeling fortunate to have found a great apartment at a lower price [6][8] - A family in Revesby managed to purchase a duplex at 10.5% below the listing price, highlighting the potential for significant savings in the current market [8] Regional Disparities - Conversely, other regions in Sydney are seeing properties sell above the listing price, such as Sutherland where buyers pay an average of 13% over the listing price [10] - In North Kellyville and Ingleburn, properties are also selling above the listing price by 10% and 11% respectively, indicating a competitive market driven by high demand [10] Future Outlook - Mortgage brokers suggest that the current favorable buying conditions may be short-lived, as declining interest rates could quickly heat up market demand [10] - There is a notable increase in pre-approved loans for investors, with some looking to purchase through self-managed super funds due to improved cash flow capabilities [10]