Super Saturday Brings Record Breaking Results
Clearance rates continue to rise against a wealth of new listings.
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Despite a flood of pre-Easter listings, metro clearance rates continued to sit at incredibly strong levels.
The so-called March 27 ‘super Saturday’ saw all capitals report clearance rates above 80%. Further, each capital recorded more listings than last year’s equivalent weekend, with the exception of Brisbane.
The Sydney housing market continues to soar to unprecedented heights recording a clearance of 90.4%, the city’s fourth result over 90% in the last 5 weekends.
A total of 1227 auctions were listed for Saturday, well above the previous weekend’s 856 and the Covid-impacted 1058 recorded over the same weekend last year.
Sydney’s median price for houses sold at auction on the weekend was $1,573,000, 2.3% lower than the previous weekend’s $1,610,000.
Melbourne, meanwhile, hosted 1593 home auctions on Saturday, up on the previous weekend’s 1117 and higher than the 1400 on the same weekend last year.
Despite the record number of offerings, the Victorian capital recorded its highest clearance rate since January 30 at 83.7%.
Melbourne recorded a median price of $1,015,000 for houses sold, 3.6% higher than the previous weekend’s $980.000.
Melbourne recorded a median price of $1,015,000 houses sold at auction on the weekend which was 3.6% higher than the previous weekend’s $980.000.
While ascendent year-on-year, such figures must be framed by the fact the equivalent 2020 weekend saw Sydney and Melbourne locked down due to COVID.
Brisbane, as mentioned, saw 114 homes listed for auction this past weekend, down on last year’s 131, however recorded a clearance rate of 82.3%.
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The actress and her husband, comedy writer Dave McCary, spent more than three years restoring the house, which is one of the priciest properties for sale in the Texas city.
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In 2021, actress Emma Stone purchased a historic estate in Austin, Texas, with a plan to move her family there. Four years later, she has instead decided to put the property on the market.
The actress and her husband, comedy writer Dave McCary, are asking $26.5 million for the newly renovated estate, according to Eric Moreland of Moreland Properties/Forbes Global Properties, one of the listing agents. The 1.25-acre property, located in the upscale Tarrytown neighbourhood, will be among the most expensive on the market in Austin.
Stone and McCary have spent more than three years renovating and restoring the Texas property, Moreland said.
A spokesperson for Stone didn’t respond to requests for comment. Moreland said the couple’s New York business interests have expanded since they started the remodel, and while they hope to live in Austin eventually, it doesn’t make sense for now.
The couple, who are co-founders of the production company Fruit Tree, own a roughly $12 million apartment in lower Manhattan, according to property records. Stone is slated to star in the upcoming contemporary Western film “Eddington.”
It’s unclear what Stone and McCary paid for the Austin property, since Texas is a nondisclosure state . The Georgian-style brick house dates to around 1940, making it one of the oldest estates in the area.
The roughly 10,000-square-foot estate includes a main house with four bedrooms and a two-bedroom guesthouse. The property also has a pool, a hot tub, and a garage with a screening room and entertaining space above.
As part of the renovation, the couple removed, cleaned and reused all the exterior brick. They also reconfigured some of the living spaces, opening the kitchen to the living room for a more modern layout. It took more than a year just to install the millwork in the screening room, said Moreland.
The contractors are now putting the finishing touches on the property, he said.
The “La La Land” actress has a track record of buying and selling her homes for significantly more than she paid. In 2022, she sold her blufftop Malibu, Calif., home for $4.425 million after buying it for $3.25 million in 2018, according to property records.
Last year, she sold her home in L.A.’s Comstock Hills neighbourhood for $4.3 million, significantly more than the $2.3 million she paid in 2019.
Austin saw an influx of new residents during COVID, but many of those are now returning to the East and West coasts, particularly workers in the tech sector.
While the market “has come down to earth a little bit” since the pandemic-era boom, Moreland said, he has seen a number of $20 million-plus deals over the past few months.
Moreland has the listing with colleague Diane Humphreys.
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