North Melbourne's buyers are firmly in control right now, and nowhere is that clearer than in the house market. Two and three-bedroom homes are clearing at around half, with buyers comparing widely and in no hurry to commit, wary of paying above what recent local sales actually support.
The apartment market is more active, with 363 unit sales this year, up 16.0 per cent, and clearance at a solid 79.4 per cent. Buyers here want a home they can move into without further work, and units that meet that bar are clearing quickly and confidently.
Sellers need to price to this year's genuine evidence rather than an older figure, since buyers are quick to move past anything that looks ahead of the market. With more stock expected as spring approaches, presentation and realistic pricing will matter even more.
Median sale price for houses in North Melbourne is $1,230,000, down 3.5% from last year.
Median sale price for units in North Melbourne is $570,000, up 18.8% from last year.
Properties sold for houses in North Melbourne is 120, down 7.0% from last year.
Properties sold for units in North Melbourne is 372, up 16.3% from last year.
Auction clearance for houses in North Melbourne is 60.3%, down 6.9% from last year.
Auction clearance for units in North Melbourne is 84.4%, up 24.6% from last year.
Av days on market for houses in North Melbourne is 44, down 17.0% from last year.
Av days on market for units in North Melbourne is 34, down 12.8% from last year.
$1,749,000
$1,287,500
$1,230,000
$1,100,000
$1,091,500
$472,000
Wondering what homes are actually selling for locally? Browse recently sold properties in the area
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