Well what a month May was for Auctions….
There were some exceptional properties being sold under the hammer via this ever popular method of sale. 51 Oliphant Avenue, Marion was our last sale of the month selling for $480,000 on the last Saturday in May.
But our standout property sold in May was Finniss Street Oaklands Park. Welcomed us to the property on a beautiful May morning, we saw no less than seven registered bidders, who bid strongly, before it became a two horse race. Our first bid was $470,000 and 57 bids later the hammer came down at $592,000 some $42,000 above the set reserve price! This was a huge result for our vendors and a very relieved purchaser.
“Oaklands Park and Marion produced the best clearance rates for the month.”
Auctions for May leading up to our federal election were the correct method of sale for our Vendors. The fact vendors had found cash buyers with quick settlements, enabled them to move forward with their next purchases. Auction continues to be our preferred method of sale as we navigate through this changing market.
We look forward to hosting our first In room Auction event on 4th July 2019. Combined with our Henley Beach and Plympton & Glengowrie offices at the Adelaide Sailing Club, with registrations starting from 6pm. We will be offering some 15 properties for sale on the night, keep an eye out for an auction near you.
That’s a wrap for May – we look forward to updating you on the June Results!
Days on Market
|98 Finniss St, OAKLANDS PARK||Sold under the hammer||$592,000.00||23|
|12A Hardy Ave, GLENGOWRIE||Sold post Auction||$702,000.00||53|
|25 Oakleigh Rd, MARION||Sold under the hammer||$515,000.00||20|
|24 McCoy St, BRIGHTON||Sold post Auction||$870,000.00||18|
|25 Kearnes Rd, OAKLANDS PARK||Sold post auction||$380,600.00||21|
|51 Oliphant Ave, MARION||Sold under the hammer||$480,000.00||22|
|29 Ayre St, SOUTH PLYMPTON||Sold post Auction||$586,000.00||29|
|5 Lambton St, OAKLANDS PARK||Sold post Auction||$485,000.00||22|
Average Days On Market – May 26
Average Sale Price – May $576,325