Local Market Update - February 2017

Selling through Bayside Beaches now has all the experience and expertise Beaumaris residents expect. Craig's on board and his 17 years of experience, with involvement in over 2500 real estate transactions plus many national industry awards, gives you piece of mind that you are dealing with one of the best real estate professionals in your area.

Beaumaris Market Update - Feb

The Melbourne home auction market has produced its strongest February performance with record high listings and booming clearance rates.

Spring has traditionally been the most popular season to sell, but the biggest auction weekends over the past year have not been in spring at all. The last Saturday in February was Melbourne's busiest auction day since pre-Easter last year - surpassing every 2016 spring weekend. Incredibly, even with 1400 auctions, the clearance rate, which has been steadily rising all February hit a year high of 82.4%.

There is certainly a sense that it is a good time to sell and vendors are keen to take advantage of a very good market. Sellers continue to benefit from a seemingly insatiable buyer appetite with all regions and price ranges sharing in the current heady market conditions.

The March market commences with significantly fewer auctions, which will provide fertile ground for yet another strong result as buyer competition intensifies.

Locally, there is such a supply problem in Black Rock and Beaumaris - townhouses, mid-century homes to renovate, and, as always family homes up to $2M are thin on the ground and in extremely high demand.

There were 17 sales in Beaumaris for February with 42 currently on the market.

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Craig Cox

0432 44 66 22