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Auction Results – March week 1

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Auction Results – February March

A healthy clearance rate makes up for a somewhat unexceptional average selling price, in a week which continues Adelaide’s 2018 trend of real estate consistency.

Of 98 scheduled auctions, 72 results are available. Of these, 54 were sold for a clearance rate of 75%. This exceeds the rate of last week, more in keeping with the 77% prior.

Throughout February, the clearance rate bounced between the 60s and 70s, a very healthy space for these figures to inhabit.

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The average selling price was $656,355, a drop from the previous weeks, which both rested in the $680,000 to $690,000 range.

The cause of this smaller figure is a drop in the volume of million-dollar sales, as just two properties exceeded $1 million in selling price this week. By comparison, last week saw five million-dollar sales.

As always, it is possible that million-dollar sales went unrecorded, but this is just as possible for the previous two weeks. In light of the exceptional clearance rate, this week’s pair of million-dollar sales cannot be said to be a disappointment.

The first of these million-dollar sales is that of 40 Sheffield Street, Malvern, which sold for $1,190,000. Bernie Altschwager of Ouwens Casserly Real Estate, achieved this price for the villa constructed of picturesque stone, circa 1905.

Renovated with respect for tradition and placed on the market for the first time in 30 years – every year of evolution and refinement reflected in the stellar selling price.

The highest sale of the week was 18 Arcoona Avenue, Rostrevor. The home incorporates exceptional design with sleek modernity to be found inside, with Jarrah floorboards, high ceilings and five bedrooms.

Outside, a Japanese-style front garden overlooked by a contemporary bay window and an expansive backyard, shimmering with the waters of the salt-chlorinated pool, do not disappoint.

Tom Hector and Jarred Stamoulis of Harris Real Estate sold this home for $1,200,000. Tom Hector has featured on SA Real Estate News, providing his wisdom in an evidently earned Top Agents Profile as well as a more extensive Q&A.

This smooth, consistent current looks to flow onwards throughout 2018, and with luck the rest of March has much of the same in store.

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