West Melbourne's apartment market gives buyers plenty to compare, and clearance has eased to 47.6 per cent as a result, down 23.8 per cent on last year, with more than 300 unit sales showing just how much choice is on offer. This is the clearest buyer's market for apartments anywhere in this update.
Houses are a different story entirely. Clearance has jumped 43.2 per cent to 65.6 per cent, and prices are up 8.8 per cent, as buyers compete for the suburb's smaller pocket of period homes.
With so much apartment stock to choose from, standing out matters more than ever right now. A well-presented, accurately priced unit is what wins the competition, while anything anchored to an older figure is likely to be passed over quickly by buyers who know they have options.
Median sale price for houses in West Melbourne is $1,287,500, up 10.9% from last year.
Median sale price for units in West Melbourne is $530,000, up 1.1% from last year.
Properties sold for houses in West Melbourne is 42, up 35.5% from last year.
Properties sold for units in West Melbourne is 294, down 1.7% from last year.
Auction clearance for houses in West Melbourne is 64.7%, up 58.2% from last year.
Auction clearance for units in West Melbourne is 45.0%, down 30.5% from last year.
Av days on market for houses in West Melbourne is 59, down 19.2% from last year.
Av days on market for units in West Melbourne is 46, down 16.4% from last year.
Wondering what homes are actually selling for locally? Browse recently sold properties in the area
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