Home Auction Results Auction Results – August week 1

Auction Results – August week 1

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This week saw a decrease in the amount of auctions recorded in comparison to last week, which had the highest amount of scheduled auctions in roughly a month.

64 auctions were scheduled, with only 38 of the results being available. The clearance rate is 68%, with 16 sold at auction and 9 being sold prior to auction. Despite less auctions being held this week, there is a slight 4% increase in this weeks clearance rate.

The average price of sale is around $635,071, an increase of $70,607 when compared to the average from last week. Despite fewer auctions, the higher clearance rate and higher average makes for a balanced improvement.

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Most of the auctions took place on Saturday, with 22 being recorded and 15 of the 22 properties sold. 8 were sold at auction, 7 were sold prior to auction and 6 were passed in. Compared to last weeks auction results, 39 properties were sold; however there was a larger amount of properties up for auction last week (87 were scheduled – the highest amount recorded in a month) than there were this week.

The $950,000 sale of 46 Johns Street in Prospect, was made possible through Margie Saint of Ouwens Casserly Real Estate and was the highest sale of the week. This 4 bedroom, 2 bathroom and 2 carport 1910 Villa, has beautiful period features such as Victorian coves and high ceilings, including fireplaces in each bedroom. The median house price for a 4 bedroom home in Prospect currently is $824,750, with 46 Johns Street going $125,250 above the median price range.

The second highest sale was 144 One Tree Hill Rd, Golden Grove, facilitated by Craig Ricciuto. The property was sold for $900,000, which is well above the median house price for a 4 bedroom home in Golden Grove – $567,500. The property is just 30 minutes from the CBD, and is approximately 12.71 acres with features such as 18 horse stables, 100m x 30m dressage/show jumping arena, and including a separate managers cottage.

Another property that was sold at auction on Thursday was 12 Green Lane, Willunga South, through Nik van Vliet of First National Real Estate. This uniquely designed property with spectacular views of the desirable Willunga region, sold for $650,000 – the price being the closest to the median ($635,000) for the week.

This was a productive week in real estate, with a more balanced outcome in clearance rates and a higher average in property prices. Despite less auctions being scheduled in comparison to last week, the average sale price of $635,071, has increased by $70, 607, higher than last week, which was the lowest average in July. However, last weeks average does not reflect a dip in real estate productivity, rather due to a larger sample size than normal that lacked lucrative outliers to lift the average.