Auction Results – February week 3 (1)As February comes to a close, Adelaide’s real estate market flows more than it ebbs, as favourable figures and interstate comparisons painting a positive picture.
Of 111 scheduled auctions, 81 are recorded. 62 of these sold for clearance rate of 77%, up from last week’s 68%.
This comes in the wake of Adelaide achieving the third-highest clearance rate in the nation in mid-February, behind only Sydney and Melbourne. Just as Adelaide is competitive on a national level, it surpasses its own previous averages.
This week’s average selling price was $681,137, slightly above the 2017 February average of $657,019.
The average selling price and clearance rate of the final week of February last year are also surpassed, but more marginally. Last year seeing a clearance rate of 73% and an average selling price of $678,348, though with only 40 auctions recorded.
Driving this week’s average to $681,137 are seven million-dollar sales.
Third-highest of these is the sale of 106 Barton Terrace, in North Adelaide, achieved by Andrew Fox of Fox Real Estate. Retaining its 1890 heritage while being modernised for convenience, ornate lead light windows, fireplaces and cornicing sit beside Caesarstone benchtops, with contemporary appliances and pristine tiling. Every dollar of the $1,330,000 selling price is earned.
Linda Van Hooff of Ouwens Casserly Real Estate facilitated the week’s second-highest sale, $1,420,000 paid for 22 Chester Street, Henley Beach. Between the pool, close-by beach, exquisite cabana-sheltered outdoor sitting area and refined four-bedroom interior, this price-tag is no less deserved than the previous.
44 Dunbar Terrace, is another beachside property in the suburb of Glenelg East, and the most lucrative sale of the week. Stephanie Callaghan and James Packham of Harcourts Packham secured the immense $1,450,000 selling price. Last year, James was featured on SA Real Estate News for his proficiency in social media marketing, and he had much to market with here.
A 874 square metre allotment is filled by Medallion Homes designed excellence. Pristine white pillars and a balcony elevating the first impression of the home’s front, with a salt-chlorinated pool ensuring luxury out back, and everything in between resplendent.
As February concludes, it proves a month which has been nationally competitive and superior to February 2017 – if this is a plateau, it is a favourable one.