April Market Snapshot #3

The Sydney auction clearance rate dropped down to 78 per cent over the last weekend (April 12), following weeks of high trending figures for sale turnover. But these figures shouldn't be cause for alarm, as the total sales amount of the weekend beat out last week and rose to a huge $555,371,800 - illustrating the retained strength of sales that did occur. 

Furthermore, the median price for the properties sold over the weekend was recorded at $958,000. While not as high as last weekend, these fluctuations shouldn't be a source of concern. Following the great news of new home lending and approvals seen last week, the market could be gearing up for further growth in the near future. 

For evidence, simply look towards Balmain's sale statistics from the last weekend. Of the six properties that sold over the weekend, five of them achieved a final sale price over $1,000,000 - while the final property sold for over $2,000,000. This three-bedroom home sold for $2,110,000, pushing it into the prestige property market and highlighting the lifestyle-oriented real estate goals of those looking into Sydney's Inner West property landscape.

Another four properties in Leichhardt sold for over the median property price last weekend - selling for $961,000, $1,085,000, $1,105,000 and $1,920,000. These are stupendous results for the local region and could be encouraging for anyone interested in selling their own Inner West real estate in the coming weeks. 

The Inner West streak continues into Lilyfield, where two more properties sold for over $1,000,000. A total of two three-bedroom homes were sold for $1,001,000 and $1,255,000, respectively. With these kinds of results permeating the market, Inner West property seems to be a strengthening beacon for Sydney's real estate market. 

This could be the perfect time to get in contact with a local real estate agency and begin discussing the options available to you and your family for selling your Inner West home today.