Toorak is Melbourne's most prestigious address, and interestingly its busiest, strongest segment right now is the apartment market. Two-bedroom units near $837,500 are clearing at close to four in five, and three-bedroom apartments near $2.45m are selling in good numbers too. This is the flight to quality in action, with downsizers staying local and investors seeking security in a blue-ribbon postcode.
The grand house market trades in a more considered way. Three-bedroom homes near $2.65m clear at around the mid-fifties, and the trophy houses, some near and above $6m, sell selectively, though the best move quickly when priced correctly.
For owners of quality apartments, demand is genuine and buyers are ready to act. For the landmark homes, the buyer pool is discerning and international, and a considered price backed by recent evidence, together with first-class presentation, is what brings the right buyer to the table.
Median sale price for houses in Toorak is $3,665,000, down 26.7% from last year.
Median sale price for units in Toorak is $1,117,500, down 11.8% from last year.
Properties sold for houses in Toorak is 136, down 8.7% from last year.
Properties sold for units in Toorak is 231, up 30.5% from last year.
Auction clearance for houses in Toorak is 57.4%, down 17.5% from last year.
Auction clearance for units in Toorak is 78.1%, up 5.7% from last year.
Av days on market for houses in Toorak is 42, up 5.0% from last year.
Av days on market for units in Toorak is 42, down 8.7% from last year.
Wondering what homes are actually selling for locally? Browse recently sold properties in the area
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