Record May Auction Listings Bring Strong Results
Pre-Budget home sellers took advantage of insatiable buyer’s appetite.
By Terry Christodoulou
Mon, May 10, 2021 10:54am
2 min
2 min
Auction results from Saturday, May 8, saw a number of sellers attempt to cash in on what is still a boomtime market.
A May record of 2563 auctions were reported in auction capitals on Saturday – an increase of 12.2% over the previous weekend and the second-highest offering of the year so far, only behind the Super Saturday auctions of Match 27.
Clearance rates in all capitals eased from the record-breaking March results, yet are still very strong in light of high auction numbers with an average clearance rate of 83.1% – just below the 83.3% of the previous weekend
The Auction markets will be further strengthened by the Federal Budget announcements which signal significant stimulus policies aimed directly at housing demand and first home buyers.
Sydney’s high autumn clearance rates have faded marginally compared to the results recorded in March. However, the market still favours the seller with a clearance rate of 83.5% posted in the harbour city, just below 84.6% and well above the 71.3% recorded this weekend last year.
A Sydney May record of 1014 auctions was reported on Saturday, with the city recording a median price of $1,650,000 for houses sold at auction at the weekend, which was 3.7% higher than the $1,595,000 reported over the previous Saturday and 34% higher than the $1,231,000 recorded over the same weekend last year.
Melbourne fared similarly with a month-high weekend clearance rate of 80.7%, up on the previous weekend’s 80.1% and well ahead of the COVID-impacted 48.2% recorded over the same weekend last year.
A total of 1248 homes were reported listed for auction on Saturday – well above the 1084 auctioned over the previous weekend.
Melbourne recorded a median price of $1,050,000 for houses sold at auction on the weekend, which was 4.9% higher than the $1,001,000 recorded over the previous weekend.
Data powered by Dr Andrew Wilson of MyHousingMarket.com.au
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Owned by Richard Outten, who’s penned screenplays for films including “Pet Sematary Two” and “Lionheart,” this is only the third time the home has been on the market
By CASEY FARMER
Tue, Aug 27, 2024 < 1 min
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A Mid-Century Modern home in Carmel, California, hit the market on Friday for just the third time in 70 years with a listing price of $4.25 million.
Located in the community of Carmel Highlands, the house is just steps from the coastline and comes with private beach access, according to the listing with Tim Allen of Coldwell Banker Realty in Northern California. Allen was not immediately available for comment.
The property last changed hands in 2010 when Hollywood screenwriter Richard Outten bought it for $990,000, public records show. Outten penned the screenplays for the 1992 movie “Pet Sematary Two” and the 1987 film “Lionheart,” and created the story for the 2012 “Journey to the Center of the Earth” sequel, “Journey 2: The Mysterious Island.” He was not immediately available for comment.
Built in 1953, the home’s mid-century charm has been preserved over the years while still being updated for modern living. Interior details include wood paneling, exposed-brick walls and beamed ceilings.
The single-level house has 1,785 square feet, which includes three bedrooms and two full bathrooms. Though not directly on the water, large windows flanking the adobe-brick, wood-burning fireplace look out at the ocean.
Sliding glass doors create a seamless flow between indoor and outdoor living. Outside, there’s a large patio surrounded by lush landscaping, and there are also meandering paths through sustainable succulent gardens, according to the listing.
In addition to its close proximity to the beach, the home is a 10-minute walk from downtown Carmel-by-the-Sea.
As of July, the median list price in Carmel is $3.1 million, up 8% from last year, even as active listings have increased 50% year over year, according to data from Realtor.com.
