Prahran is young, vibrant and led by its apartment market. The affordable one-bedroom unit is the standout, with around a hundred and seventy sold over the year near $372,000 and clearing at close to three in four, exactly the stock the current wave of interstate investors is chasing. Buyers advocates placing clients within single buildings are part of what is driving that demand.
There is more choice, and more selectivity, further up. Two-bedroom apartments are clearing at around half, and the two-bedroom house is similarly measured, while the three-bedroom period home near $1.74m is the stronger house segment at around six in ten.
For owners of a well-presented entry apartment, competition is genuine and buyers are ready to move. With many buyers lodging offers across several properties at once, vendors currently on the market are best to act decisively when a strong offer arrives rather than waiting for more.
Median sale price for houses in Prahran is $1,595,000, down 6.2% from last year.
Median sale price for units in Prahran is $465,000, down 5.1% from last year.
Properties sold for houses in Prahran is 135, down 15.6% from last year.
Properties sold for units in Prahran is 328, up 9.0% from last year.
Auction clearance for houses in Prahran is 60.4%, down 12.4% from last year.
Auction clearance for units in Prahran is 63.2%, up 40.6% from last year.
Av days on market for houses in Prahran is 39, up 2.6% from last year.
Av days on market for units in Prahran is 39, down 4.9% from last year.
Wondering what homes are actually selling for locally? Browse recently sold properties in the area
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