Auction sales remain strong with 879 auctions scheduled in Victoria this week and with the results collected thus far a 75% clearance rate has been recorded. There has been a resurgence in Auction sales in the South East Suburbs within the municipalities of Cardinia, Casey, and Greater Dandenong. The team at OBrien Real Estate achieved a 82% success rate at auctions this week with an average day on market of 26 days. A notable sale in Narre Warren North this week which required by request of the vendor formal registration of bidders prior to the auction. There were 16 registered bidders of which more than a dozen competed for the property with an eventual selling price of $1,970,000.
There were 773 Auctions scheduled in Victoria for the week ending 15th September 2019 and of the results collected thus far there has been 76% clearance rate recorded. The team at OBrien Real Estate achieved 75% clearance with an average days on market of 25 days.
It’s astounding the crowds the team are getting at Auction times with several auction crowds exceeding 150 spectators.
Spring has sprung and the Real Estate market had responded to the traditional selling season in fine form with 693 Auctions scheduled in the state and of the results collected thus far a 79% clearance rate has been recorded, at OBrien Real Estate the team achieved 82% success with their Auctions for the week.
A stand out result is a Mount Waverly property that received an incredible 110 bids in a marathon auction lasting around 40 mins.
With high attendance at all OBrien Auctions this week the team achieved 82% success at auction for the week ending 25th August 2019.
Statistics produced by one of Australia’s leading real estate data sources have shown that this weeks Melbourne clearance rate has been the strongest for the same week for the last five years .
2019 – 81%
2018 – 56.6 %
2017 – 72.3 %
2016 – 77.4%
2015 – 74.3%
As this week is the last week of the winter market and the Spring market gets into gear we expect volume and clearance to remain strong.
What a week at OBrein Real Estate with 100% success at auction for the week ending 18th August 2019. Here’s the numbers behind the scenes that support the team’s success. Auctions were held in 12 different suburbs across 5 municipalities, selling entry level property at $435,000 through to highest selling price $1,725,000 with an average days on market of 25 days. For the state of Victoria, a 78% clearance has been recorded thus far
A slightly lower volume of auctions were scheduled across the state for the week ending the 11th August 2019 with 473 Auctions conducted. The great news is clearance rate thus far is 77% which remains strong and suggests the continued increase in confidence in the Real Estate market. Clients at OBrien Real Estate that have recently chosen the Auction method to sell have enjoyed an extra bonus with the average days on market consistently under 30 days.
This weekend saw the last round of Auctions for the first month of the new financial year.
Clearance rates across not only Victoria but nationally across Australia shows that there has been a significant increase in confidence in the real estate market.
We have seen the highest clearance rates for more than 12 months in the month of July.
This week in Victoria there were in excess of 500 auctions scheduled with preliminary clearance rates showing 71% of properties selling.
At OBrien Real Estate for the week ending 28th July our success rate at auctions was 89% and for the month of July in total 79%
Rain hail or shine the auctions must go on and it seems we had three this week end. There were 334 auctions scheduled this week in Victoria and with the results collected thus far there has been a 74% clearance rate recorded. OBrien Real Estate success rate matched the state at the same 74%.A stand out sale in our group was within the city of Knox 7 Jukes Road Boronia which during the 24 days on market saw 195 people inspect the home, over 150 people at the auction and 6 bidders bid past the reserve price to an eventual selling price of $770,000.
There was a slightly lower volume of Auctions this week with 508 scheduled in Victoria, however we have seen growth in the overall clearance rate for the fourth week in row. This week with results collected thus far there has been a 74% clearance rate recorded.
Results thus far for the week ending 23rd June 2019 Show there were 938 Auctions Scheduled and a clearance rate in excess of 70%.The team at OBrien Real Estate showed their strength in the Monash Region with an outstanding result with 100% Clearance.