Lack of competition among sellers during lockdown is delivering windfall prices in Parkdale.
Two homes on the same street recently sold ahead of their scheduled auctions and for prices well above expectations.
The sellers would have been happy with $1.85 million but the competition drove the result to a whopping $2.051 million on September 7.
“The property sold very well and we were shocked with the result, which I believe was due to the lack of properties for sale,” Ms Cumming said.
“The sellers might not have got this price if we had waited till lockdown was over when there would be more competition from other sellers.”
The contest among the four owner-occupiers took just 10 minutes with the keys going to a family that lived close by.
“The home was bought sight unseen by the new owners, and we are getting more sales like this,” Ms Cumming said.
She added the sellers, a couple who are downsizing after three decades in the family home, were “crying” with delight after the sale.
Meanwhile, 55 Bethell Avenue also sold at an online event when an offer came in ahead of the September 18 auction.
“We called all interested buyers to make offers and had three buyers, and the property sold sight unseen,” selling agent Chloe Barry said.
The three-bedroom townhouse on 354sq m fetched $1,527,500, which was well above the $1.4 million the seller expected.
Buyers who have sold their homes and who need to buy at this time are also driving sales, Ms Barry said.
The agency is selling all the properties it lists for sale during lockdown with a strong virtual auction clearance rate and at prices well above expectations, Ms Cumming said.
The agency has two online auctions on September 11 and both are expected to perform strongly, she added.
Up for sale at 11am is a 540sq m property at 2 Tarongo Drive, Aspendale, which offers a blank canvas for a renovation, and has three bedrooms, two bathrooms and a large backyard.
It will be followed by the auction of a mid-century home at 8 Duke Street, Aspendale, which features a three-bedroom house, an established backyard plus a paved patio.
In August, the agency also brought forward the auction of 433 Main Street, Mordialloc, and it sold for $1.6 million, which was significantly above the seller’s expectations. Three bidders fought it out for the property and it was snapped up by a developer.
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