8 Nassim Hill, where a townhouse was sold as a sheriff sale for $9.1 mil last December.
For the whole of 2021, total listings came up to 670, an increase of 35.4% y-o-y. Auction success rates also improved during the year to 4.8%, compared to 3.6% logged in 2020. As a result, the total gross sales value almost tripled to $85.9 million with larger ticket properties sold under the hammer in 2021.
Lee notes that despite only two owner sale listings transacted during auction in 2021, many more were sold outside of auction. “Buyers are increasingly negotiating outside of auction under private treaties in order to enjoy more time flexibility in organising financing,” she says.
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