A timeless storybook-style home in Ringwood East has sold for almost $3 million to set a new price record for the suburb.

The lifestyle property in a prized pocket at 38 Ruthven Place (pictured above and below), fetched $2.82 million under the hammer on March 25.

The result easily eclipsed the previous record price of $2.65 million paid in 2020 for 41-43 Angus Avenue, a six-bedroom house on more than 5000sq m.

The property attracted more than 150 groups at inspections and several keen buyers, according to Barry Plant Croydon director James Brougham.

“There were three bidders at the auction and several more who didn’t get a chance to bid, with two taking it from $2.45 million to the sale price,” he said.

“The sellers were shocked and surprised with the result that was well above all expectations, but glad they trusted us with the strategy.”

The sellers had owned the lifestyle property of about 3000sq m for two decades.

The stunning family home with multiple living zones is complemented by a magnificent poolside oasis.

Built about about 30 years ago, the well-maintained and updated house sits beyond a circular driveway and a manicured front yard.

Displaying high ceilings and Tasmanian Oak floorboards, it has a welcoming foyer that leads to an elegant lounge and dining room, a beautiful kitchen plus spacious bedrooms.

French doors open to a deck, expansive lawn with manicured hedges, a shaded entertainment zone and a gazebo that overlooks a solar-heated pool.

Mr Brougham added the block was larger than average and located in a pocket of larger allotments that were tightly held.

The bidders were mainly younger families looking to move into the sought-after suburb, which has good access to top schools, shops and recreational areas.

With 107 houses sold in the past year, Ringwood East has a median house price of $965,500 and a median days on market of 28, according to realestate.com.au.