Written by Brendan Simpkins
Adelaide’s clearance rate jumped to 56%, up ten percent compared to last weekend, after a strong weekend for the auction market.
Phil McMahon of Phil McMahon Real Estate led the way with the sale of a 4 bedroom, 3 bathroom property in Brighton for $910,000 at auction.
Mark Fricker had a busy Saturday with four sales in Adelaide’s North East, highlighted by a property in Broadview fetching $760,000, with another five properties held over.
Nick Baranikov, unfortunately, had a property in Magill withdrawn from the market.
Independent auctioneer, AJ Colman had two sales for the weekend, including one sold prior.
It was another interesting weekend for Mr. Colman.
“Last weekend saw an interesting array of results, 2 auctions sold prior,” he said.
“The auction at Stirling presented by Tom Weston from Raine & Horne Mt Barker achieved $130,000 above reserve and two others passed in.
Mr. Colman commented on the status of the other properties.
“The interesting result from the two properties that passed in were that they were unique properties and hard to price.
“After a 3 week campaign and plenty of buyer feedback, one is now priced at 550K instead of the vendor’s initial expectation of 650K which means a sale within the next week is now achievable.
“As of the other property, the vendors are keen to meet market after initially wanting 850K, they now have a price of 700K which is more in line with the buyers.
“It’s all about the process and a successful auction campaign isn’t always about selling on auction day, however, the property despite not selling at auction overall is on the market less time than starting with a private treaty at a higher, unachievable price.”
Phil McMahon: 4 Mawson Court, Brighton
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