The first Half of 2014 has been an explosive start for New Farm, with some of the best sales results we have seen in many years. Auction numbers and clearance rates have surged in May and all signs are pointing to a steady growth throughout June.
There have been a number of notable sales this month with 19 registered biddered on Terrace street which sold for $1,060,000 with very spirited bidding. The illusive big family home on a large block which New Farm has been waiting for finally made itself available at 192 Heal Street and sold for $3,100,000 with 10 registered bidders. We saw a fantastic result at the stunning 249 Harcourt Street, which sold for $2,500,000 under the hammer to a local family. This is to name only a few of the recent success stories and we are expecting many more to come.
This positive shift throughout the first half of 2014 can be put down to tight levels of stock, resulting in the number of days on market shortening to less than 45 days for the suburb and fewer than 32 days for Ray White New Farm. The momentum from 2013 and unprecedented confidence has underpinned this massive start to the year so far with a 76% auction clearance rate for our office with properties frequently selling well above reserve.
With Ray White New Farm you can rest easy knowing that our local area experts will get you the best possible result for your property in today’s real estate market. By making an appointment with one of our team, they will demonstrate a proven and deliberate process for price maximisation that you can rely on.