Market Update 21st March 2023
By | 21st Mar 23

Market Update 21st March 2023

Melbourne had its first super Saturday test for a while with over 1000 auctions schedule with 691 auctions reported with a 73% clearance rate.  There was a bigger volume after the break where there were less properties on the market due to the Labour day long weekend the previous weekend.  Last year there were 1283 auctions with a 76% clearance rate, so a much larger volume of properties for buyers to choose from.  Read all of Melbourne’s auction results below.

https://reiv.com.au/market-insights

The owners of an updated house in Kalinda Road Croydon were happy with their result as they sold for $1,185,000.  This was $135,000 over reserve.  There were 3 bidders who all bid strongly.

https://www.realestate.com.au/sold/property-townhouse-vic-croydon-141555656?sourcePage=rea:p4ep:property-details&sourceElement=avm-sold-recently-view-sold-listing

Melbourne’s middle suburbs continue to see good results as a house in Coonawarra Drive Vermont South sold for $1,706,000 smashing the reserve by $206,000.

https://www.realestate.com.au/sold/property-house-vic-vermont+south-141513256?sourcePage=rea:p4ep:property-details&sourceElement=avm-sold-recently-view-sold-listing

Turn key modern homes continue to be popular with families in areas that have good schools.  A house in Glen Tower Drive Glen Waverley sold for $4,010,000 to an upsizing family winning the keys.

https://www.realestate.com.au/sold/property-house-vic-glen+waverley-141438688