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
MOST POPULAR
Three completed developments bring a quieter, more thoughtful style of luxury living to Mosman, Neutral Bay and Crows Nest.
From the shacks of yesterday to the sculptural sanctuaries of today, Australia’s coastal architecture has matured into a global benchmark for design.
The desert residence belonged to the singer, who also served as mayor of the California city, for more than a decade.
By Liz Lucking
Wed, Dec 17, 2025 < 1 min
< 1 min
Sonny Bono’s former estate, a piece of local history in Palm Springs, California, has come up for sale.
The desert residence, on the market for $7.49 million, was home to the singer, songwriter, congressman and Palm Springs mayor from 1986 until his death in 1998, records show.
“Opportunities like this simply do not come around often,” said listing agent Louise Hampton with Berkshire Hathaway HomeServices California, who brought the home to the market last month.
“A hillside estate of this size, with this level of privacy and this historical connection stands among the most compelling offerings in today’s desert market.”
Bono was perhaps most famously the other half of singing duo Sonny & Cher, but also served as the mayor of Palm Springs from 1988 to 1992, and as the U.S. representative for California’s 44th district from 1995 until he died in a skiing accident in 1998 at the age of 62.
Located in the city’s Mesa neighbourhood on a hillside parcel, the colourful seven-bedroom property combines Mid-Century Modern design with Italian influences across its almost 9,000 square feet and multiple structures.
The house last changed hands in 2021 for $4.35 million. The sellers couldn’t be reached for comment.
There’s a great room, a formal dining area with a rock fireplace, a chef’s kitchen with two wine fridges.
The seven bedrooms include a primary suite with a walk-in closet and a “spa-style” bathroom with a soaking tub and steam shower, according to the listing. Several of the home’s guest suites include private patios or separate entrances.
Outside, there are lawns, olive trees, date palms and cacti alongside terraces, a new travertine pool deck, a pool, a tennis court and an oversize motor court with space for more than a dozen vehicles.
