Weekend Auction Markets Low But Largely Steady
While the home auction clearance rate is trending lower, the market is showing signs of stabilisation.
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Weekend auction markets continue to report similar results, with buyer and seller activity moderated compared to previous months.
The national auction market reported a clearance rate of 60.1% at the weekend — slightly down on the previous weekend’s 60.8% and significantly lower than the 77.3% recorded over the same weekend last year.
Saturday’s results were once again the lowest clearance rate since lockdown-impacted August 2020.
National auction numbers were higher at the weekend with 1487 listings compared to last weekend’s 1442.
While the Sydney market continues to trend lower, it is stabilising albeit at the lowest levels since lockdowns in April 2020.
The NSW capital recorded a clearance rate of 57.9% at the weekend — similar to the 58.0% recorded the previous weekend but well below the 75.1% of the same weekend last year.
The number of residences auctions was lower at the weekend with 575 reported compared to the previous weekend’s 597 and higher than the 566 of the same weekend last year.
Sydney recorded a median price of $1,505,500 for houses sold at auction at the weekend which was slightly lower than the $1,515,000 recorded last weekend and 1.8% lower than the same weekend last year’s $1,532,500.
Melbourne’s weekend auction market continues to produce steady results with the impact of higher interest rates having an effect on buyer confidence.
Melbourne reported a clearance rate of 607% on Saturday – lower than the previous weekend’s 60.4% and lower than the 79% recorded on the same weekend last year.
A total of 627 homes were reported listed in the Victorian capital at the weekend — higher than the 598 reported over the previous weekend but again well below the 1120 of the same weekend last year.
Melbourne recorded a median price of $1,000,000 for houses sold at auction at the weekend which was higher than the $923,000 reported last weekend and 6.6% higher than the $938,000 recorded over the same weekend last year.
Data powered by Dr Andrew Wilson, My Housing Market.
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.
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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.
Early indications from several big regional real-estate boards suggest March was overall another down month.
The Mayfair home, listed for £8.25 million, once belonged to the Earls of Lindsay.
