A robust week in real estate sees high volumes, a favourable average and an excellent clearance rate. 106 auctions were scheduled, the first century since mid-August, with results available for 79 of these.
Of those available, 58 properties were sold, 36 at the auction, and 22 prior to it. Resulting in a stellar clearance rate of 73%, another figure that was last surpassed in August. The average selling price for this week is $598,386, a somewhat disappointing figure in an otherwise exceptional week. And also in a month in which each prior week’s average exceeded $600,000.
This disappointing figure may, however, have its genesis in a more random statistic. 22 prices, an unusually high amount, were not disclosed this week, which could have untold ramifications for the figures.
For example, the price of this week’s 1 Glenrowan Avenue, Myrtle Bank, its sale facilitated by Gabrielle Overton of LJ Hooker, went unrecorded. This property, by virtue of its fairytale aesthetic and longevity, was featured as a Property Spotlight on SA Real Estate News and likely sold for something in the vicinity of its $1.6 million listing price, a figure which, if included, would undoubtedly have boosted the averages and provided a truer indication of the profitability of this week.
This is not to detract from the three million-plus sales which can be identified for this week, each of them taking place on the Saturday along with the vast majority of this week’s auctions, as is usually the case.
The first of these is 22 Owen Street, Goodwood, its Hyde Park proximity and 2010-built classic style earn its $1,050,022 price-tag. Harris Real Estate’s Kris Casey oversaw this sale, applying the skills which earned her the label of South Australia’s number one female agent in 2016.
Selling for $1,210,000 is 24 Harrow Road, College Park, Judy Morris of Klemich Real Estate fetching this colossal price for the glorious three-bedroom sandstone villa. However, the most lucrative sale of the week is 52 Kennaway Street, Tusmore, with a selling price of $1,325,000. The elegant and charming bungalow benefits from a great location and picturesque frontage, with Roberto Bonomi of LJ Hooker securing an excellent price for the home.
These impressive sales are the apex of a very profitable week of real estate, the outcrops of this mountain of sales obscured by the mists of undisclosed prices, preventing total accuracy of appraisal. What can be said with certainty is that it is the latest in a sequence of high volume, largely lucrative weeks, a trend which with luck will continue.