Adelaide’s auction clearance rate fell from 74% to 53% after a relatively quiet week of auctions.
Of the 30 properties up for auction by members of the Society of Auctioneers and Appraisers, only 16 sold on the day.
That was a considerable decrease compared to the week before where 26 out of 35 properties sold at auction.
The average sale price also fell to $601,031, despite two properties selling for over a million dollars.
Jonathon Moore and Beverly Philpott – agent at D B Philpott – had the largest sale of the weekend as a beautiful 6 bedroom home in Prospect sold for $1.26 at auction on Saturday.
Constructed in 1910, data from CoreLogic shows that the property was last on sale in 2000 where it sold for $291,000 – considerably lower than its sale price over the weekend.
Moore had one other property sell at auction on Saturday for $600,000.
Earlier in the week on Wednesday, Moore had two properties up for auction.
A 3 bedroom home in Allenby Gardens sold for $591,000, while a 2 bedroom in Croydon Park fetched $537,000 as Moore finished the week with a 100% clearance rate.
The second largest sale of the week belonged to Brett Roenfedlt and Jason Spagnoulo of Ray White City Edge as the gavel was brought down at $1.15 million for a 3 bedroom home in Firle.
Towards the start of the week on Tuesday, Roenfeldt brought the gavel down at $381,00 for a 3 bedroom home in Pennington.
Roenfedlt also had 4 other sales for the week, all on Saturday.
Michael Cavuoto had the only sale on Sunday the 21st with a 3 bedroom home in Findon going for $520,000.
Three properties sold at auction on Thursday with Brett Pilgrim recording the largest sale for the day with $559,000 for a 2 bedroom home near South Terrace in Adelaide’s CBD.
David Smallacombe and Tony Tagni also had sales on Thursday.
*All results provided by the Society of Auctioneers and Appraisers*
If you wish to have your auction results included, please ensure your auctioneer is reporting their results to www.auctioneers.com.au
Jonathon Moore & Beverly Philpott: 21 Azalea Street, Prospect