If you’ve been following the Perth property market, you’ve heard the story: there’s a critical shortage of homes for sale. Buyers feel it as they scroll through listings, and news headlines reinforce it, often pointing to the low number of properties advertised online at any given time.

This number, known as active listings, has indeed been strikingly low. For most of 2024, it hovered below the 4,000 mark, even hitting a record low of just 3,199 at the end of last July. After a brief rise, we saw it dip below 4,000 again at the end of June 2025.

On the surface, it paints a picture of a market starved for new stock. But is that the whole story?

The data reveals a fascinating paradox. The issue isn’t a lack of people deciding to sell. To understand what’s really happening, we need to look beyond the snapshot of “active listings” and examine the flow of properties coming to market.

The Real Story: New Listings vs. Active Listings

Think of the property market like a retail store. “Active listings” are the amount of product you see on the shelves at one specific moment. “New listings,” however, represent the total amount of new stock delivered to the store over a month or a year.

If you only look at the shelves, you might think the store has a supply problem. But what if the stock is selling out the moment it’s put on display?

This is precisely what’s happening in Perth.

When we look at the total number of new listings, the data tells a different story. In the 2024-25 financial year, there were actually 5.1% more properties listed for sale than in the previous financial year.

So, if a healthy number of homes are coming onto the market, why do the shelves look so empty?

The Key Factor: Unprecedented Sales Speed

The answer lies in the incredible speed at which properties are being sold. The “time on market” has fallen to historic lows.

For much of the past financial year, houses in Perth sold in a median of just nine days, and units in eleven. Currently, both are selling in approximately two weeks.

Let’s put that into historical context:

  • In 2018-19: The market was very different. Active listings sat around a high 16,000. It felt like there were homes everywhere. However, there were actually 5,000 fewer new properties listed for sale that year than in 2024-25. The difference? Houses took a median of 56 days to sell, and units took 64 days. Slower sales meant properties lingered on the market, keeping the “active listings” number artificially high.
  • In 2013-14: During another strong growth period, active listings averaged 11,500. Even then, with about 20% more new listings than today, houses took a median of 29 days to sell, and units took 36 days—more than double today’s pace.

The current market is unique. It’s not defined by a lack of new homes for sale, but by a voracious, fast-acting pool of buyers fuelled by WA’s strong population growth and a sustained period of low new-home completions. This intense demand is absorbing new listings almost as fast as they appear.

What This Means for You

Understanding this dynamic is crucial whether you are buying or selling in Perth today.

For Buyers: The feeling of scarcity is real, but it’s a scarcity of time, not necessarily of options. It means being fully prepared to act decisively when the right property comes along. Having your finances pre-approved isn’t just an advantage; it’s essential to compete effectively.

For Sellers: There has rarely been a better time to sell. The data confirms that strong, qualified buyer demand is ready and waiting. This high-speed environment is what leads to strong competition, fantastic sales results, and minimal time on the market for well-presented homes.

Of course, real estate is hyper-local. While this is a broad overview of the Perth market, conditions can vary significantly from suburb to suburb.

That’s where expert local knowledge becomes invaluable. If you’re considering your next move and want to understand what these powerful market trends mean for your property and your goals, contact our team today for a confidential discussion and a comprehensive market appraisal.