June Weekly Market Snapshot #2

Champagne corks were popping all over Sydney last week, as the New South Wales capital celebrated an impressive auction clearance rate of 77 per cent.

In total, 343 Sydney properties went under the hammer during the week ending Saturday June 15, and 283 were sold to lucky buyers eager to own a piece of prime real estate. That means sellers walked away with more than $258 million overall, thanks to a median sales price of $867,000.

It was a particularly strong week for Balmain real estate, with all four properties set to go to auction in this region selling for well above the median price.

A three bedroom house on Clayton Street went for $1,165,000, while just down the road on Darling Street a four bedroom was sold prior to auction for $1,310,000.

Over in Balmain East, a two bedroom house on Gallimore Avenue was picked up for $896,000. Finally, a four bedroom house on Paul Street ended up going for an impressive $1,326,000.

If you are considering selling your little piece of Balmain property, these numbers seem to indicate that now might be the time to do so, with the winter market looking even hotter than many experts anticipated.

The Rozelle area also recorded a very successful week of auction results. Five properties from this region were up for sale, with two being sold at auction, two being sold prior to auction, and one being passed in.

Three pieces of Lilyfield real estate were sold, two prior to auction, and a pair of Leichhardt homes were sold for $787,000 and $667,000.

Cooper's Agency has four auctions on the radar for the next few months that anyone considering purchasing Inner West real estate may want to attend.

A beautiful four bedroom house in Drummoyne will be going under the hammer on Thursday June 27, while three more properties are scheduled to be auctioned during the weekend of the 13th and 14th of July.