For this week’s Auction Results

Auction Results

Understanding auction results is important when you are thinking about selling your home or investment property.

Auction results are a strong indicator of the current market conditions, and the clearance rate will provide a guide as to the strength, or weakness..

What is a Clearance Rate?

The Clearance Rate is the percentage of properties auctioned that week that actually sold.  This figure is usually released late on Saturday.

What does a high clearance rate mean?

An auction clearance rate is considered to be high if it is 75-80% or above.  It indicates that the market is strong and prices are rising.  Demand is strong from buyers, and there also may be a shortage of properties on the market.  It is considered to be a sellers market.

What does a low clearance rate mean?

Anything under about 60% is considered to be low.  This indicates a slower market, weaker prices, possibly an oversupply of properties for sale.  It is considered to be more a buyers’ market.