Melbourne’s auction market recorded a 65 percent clearance rate over the weekend. There were more listings compared to the previous weeks.
The clearance rate was also the highest since February despite the lower volumes.
The total auctions was 175 while the confirmed results was 110. The number of properties sold was 81 with 29 being passed in. Total sales amounted to more than $54,387,000 while the median price in the area was pegged at $865,000.
Real estate experts said buyers expressed a strong interest in listed homes. They’re also seeing a stiff competition and a high number of registered bidders. Those considering selling their homes should do it now.
Meanwhile, there are still agents transacting online and midweek auctions to cater to other buyers who want to attend auctions other than Saturday. Experts expect July to be a busier month.
Before the Covid-19 pandemic, Melbourne would have over 1,000 properties auctioned every weekend.
Public auctions resumed on Saturday after more than two months of hiatus due to the coronavirus health crisis.
Looking to buy in Melbourne and sick of missing out at auction? Talk to me about how I can help you buy your new home faster, for less.
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By Wendy Chamberlain
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With a passion for all things real estate spanning over 20 years, Wendy loves that her role as a Buyers Agent and Sellers Advocate gives her buying and selling clients an experienced voice they can trust when it comes to negotiating to buy or sell something as important as their home or investment. Wendy considers it a privilege to be asked to help others realise such an important goal as home ownership and to be trusted with that honour. Get in touch today via www.wendychamberlain.com.au for a no obligation chat about how Wendy can work with you and help you save time and money to secure your new home sooner.