Home Auction Markets Re-Focus
The auction markets remain clearly in favour of sellers.
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The weekend produced strong home auction results for sellers across the country with all capitals recording auction clearance rates well above 80% on Saturday, April 17, with the exception of Melbourne at 79.7%.
The number of listings nationally followed on from last week’s strong outing and was well ahead of last year’s auctions over the same Saturday.
The Sydney market rebounded reporting a rate of 86.2%, well above the 82.4% recorded the previous weekend and significantly higher than the COVID impacted 35.2% recorded over the same weekend last year. Despite the results, the weekend’s figure was lower than the 90.1% monthly average.
Saturday auction numbers in Sydney were strong with 785 homes listed for sale, above the 692 listed over the same Saturday last year.
Sydney recorded a median price for houses sold at auction on the weekend of $1,560,000 which was 1.0% higher than the $1,550,000 reported over the previous Saturday.
Melbourne reported a weekend clearance rate of 79.7%, which was just above the season-low of 79.1%, but well above the 28.7% COVID-related result of the same weekend last year.
1062 homes were reported listed for auction on Saturday which was well above the 905 auctioned over the previous weekend and higher than the 834 auctioned over the same Saturday last year.
Melbourne recorded a median price of $999,900 for houses sold at auction on the weekend which was 5.7% higher than the $945,750 recorded over the previous weekend.
Data powered by Dr Andrew Wilson of MyHousingMarket.com.au
As tariffs bite, Sydney’s MAISON de SABRÉ is pushing deeper into the US, holding firm on pricing and proving that resilience in luxury means more than survival.
Early indications from several big regional real-estate boards suggest March was overall another down month.
$30 Million Nashville-Area Estate Quietly Looks for a Buyer.
2 min
A 120-acre property 35 miles outside of Nashville, Tennessee, is selling off market for $30 million, making it the second-most-expensive home for sale in the state.
Located in Franklin, about 20 minutes from downtown, Cortina Farms is both a private residence and an event venue, which charges up to $56,000 to rent for the day, according to Compass, which is marketing the pocket listing. Erin Krueger holds the listing.
The only residence on the open market with a higher price in Tennessee is another Franklin property, which spans 749 acres and is asking $37.5 million.
Cortina Farms takes design inspiration from the Italian countryside, with stonework heavily featured around the verdant grounds.
The main house, with a stone exterior and a shingled roof, has approximately 2,500 square feet of living space, with three bedrooms and two bathrooms. Outside, there’s a covered back porch, an outdoor grill, a pool and a hot tub. There are also two guest apartments off the main house, each with a bedroom and a full bathroom.
In addition to its event business opportunities, the property is also designed for an equestrian, with two barns featuring a total of 12 stalls. Near the stables are four large fenced pastures that equal about 10 acres.
Other amenities include a wellness center, a party barn with a catering kitchen, an amphitheater, two lakes stocked with bass and catfish, and a helipad. Scenic trails for walking, running or ATV riding meander throughout the property past creeks, mature trees and waterfalls, according to information provided by Compass.
The property last traded hands in 2021 for $9 million, records on PropertyShark show. The owners weren’t available for comment.
The Nashville metro area has become a luxury real estate hot spot over the past few years, largely attracting people from Los Angeles as well as other out-of-state buyers looking for properties with a large amount of acreage.
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