Winter Auction Markets End Positively
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Winter Auction Markets End Positively

Engaged sellers drive auction markets.

By Kanebridge News
Mon, Aug 30, 2021 10:03amGrey Clock 2 min

The winter weekend auction market has ended on a largely positive note.

A total of 2202 auctions were reported listed nationally at the weekend – higher than the previous weekend’s 1943 and significantly higher than the 737 auctions over the same weekend last year.

The weekend increase in auctions reflected rises in Melbourne (1427), Adelaide (114) and Sydney (488) – however, Brisbane (88) and Canberra (85) were slightly lower.

Despite a rise in listings nationally, the clearance rate decreases sharply – down to 76.2% from 80.7% – the lowest for the year so far.

High withdrawals in Melbourne dragged the national clearance rate down sharply this weekend – while other capitals continued to produce robust results.

In Sydney, the weekend auction market produced strong buyer activity with a clearance rate of 83.35% lower than the previous weekend’s 86.3% and again well ahead of the 70.8% recorded over the same weekend last year.

Of note, Sydney recorded an 80% clearance rate for each weekend of August – a strong showing for a city in the depths of lockdown.

However, the high clearance rates reflect the shortfall of listings mentioned above.

Sydney recorded a median price of $1,757,00 for houses sold at auction at the weekend – lower than the $1,878,000 reported over the previous Saturday but 34.1% higher than the $1,310,000 recorded over the same weekend last year.

While Melbourne listed an impressive number of auctions, a high level of withdrawals impacted the performance of the market.

Just 48.1% of listed auctions cleared on Saturday – well below the previous weekend’s 64.9% – and the lowest since last year’s winter and spring lockdown impacted results.

Melbourne recorded a median price of $1,000,000 for houses sold at auction at the weekend – lower than the $1,018,000 recorded over the previous weekend but 10.3% higher than the $906,500 recorded over the same weekend last year.

Data powered by Dr Andrew Wilson, My Housing Market.



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The home in the village of Sagaponack has plenty of balconies to take in the surrounding water views

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A waterfront home in the Hamptons village of Sagaponack, New York, is on the market for the very first time.

Asking $25.95 million, the gray shingle-style home was built in 2008 by the seller and has since been available as a summer rental, but it’s never been up for sale.

Designed by architect Faruk Yorgancioglu, the “waterfront home offers privacy and panoramic beauty that cannot be duplicated under today’s zoning laws,” said co-listing agent Marilyn Clark of Sotheby’s International Realty – Bridgehampton Brokerage.

Jaime Lopez for Sotheby’s International Realty

The seller bought the property, which at the time had two small structures, at auction in 2005 for approximately $2 million, according to co-listing agent Deborah Pirro of Daniel Gale Sotheby’s International Realty. Mansion Global could not contact the seller.

The home hit the market Thursday, and in addition to Clark and Pirro, it is co-listed by Raquel Lopez of Sotheby’s International Realty – Bridgehampton Brokerage and Diane Anderson of Daniel Gale Sotheby’s International Realty.

Spanning 6,000 square feet, the home is filled with bright interiors, which were designed by New York-based interior designer Steven Gambrel. The open gourmet kitchen flows into a casual dining area and a living space with a fireplace, which is one of two double-sided fireplaces in the home, Pirro said.

A sunroom overlooks the water.
Jaime Lopez for Sotheby’s International Realty

“The placement and scale of fireplaces throughout the home is perfection,” she added.

A separate dining room has French doors that open onto a deck, listing photos show.

There are six en-suite bedrooms, including two primary bedrooms. The larger of the two is its own private retreat, outfitted with a fireplace, a sunroom and a large balcony, offering a space to watch the sun set over Sagaponack Pond, according to Sotheby’s.

Jaime Lopez for Sotheby’s International Realty

The home sits on a little more than an acre of waterfront land, bordering Sagaponack Pond, where there’s a private dock, and looking out at the Atlantic Ocean in the distance.

“The location on the pond with the view of the ocean waves breaking is spectacular and unique,” Clark said. “You are close to beaches and the Sagaponack General Store. It is a quick paddle to the famous Sagg Main Beach.”

Other outside amenities include a gunite swimming pool and a hot tub, which are surrounded by a spacious deck, as well as a pool cabana, which has a full bathroom, changing rooms and a sauna. There’s also multiple balconies, decks and a screened porch overlooking the pool, striking a balance between indoor and outdoor living.

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