February Market Snapshot #4

With an auction clearance rate of 86 per cent over the last weekend (February 22), it's safe to say that Sydney's Inner West real estate market is back on the same winning streak seen late last year, which could be great news for both buyers and sellers in the area.

Remaining in the higher percentage area of auction clearance highlights the increasing strength of the market, with buyer demand and vendor supply helping to create a great environment for potential property investment, first home buyers or those simply looking for a residential property upgrade. 

Furthermore, there was a total of $437,023,800 worth of sales made over the last weekend, with a median sale price of $942,000 - just shy of $1 million. With these kinds of figures, now could be a great time to begin considering the sale of your home, especially if you're the owner of multiple investment properties in the region. 

For example, a three-bedroom property in Leichhardt sold for a huge $1,181,000, which is a fantastic result for the area and well above the median sale price for the region over the period. More success was had in Rozelle, with another three-bedroom property selling for $1,207,000. 

With these properties selling well in Sydney's Inner West suburbs, there are a number of great opportunities to secure an excellent return on your investment. While you may have to implement some winter-appropriate renovations, doing so will get you ready to take advantage of the real estate market during the cooler months of the year. 

However, if you're interested in purchasing property in the area, there are a number of options present, too. 

This two-bedroom apartment in Balmain could be the perfect home for young professionals looking for somewhere relatively close to the central business district of Sydney. Get ready to lap up the waterfront lifestyle with close proximity to the cafes, shops and restaurants that make Balmain a great place to live.