Posted on | May 18, 2011 |
The clearance rate for residential auctions this weekend is 56% from the 518 auctions reported selling.
This is lower than the year to date clearance rate of 61% and less that the comparable weekend last year when there was 776 auctions reported with a clearance rate of 75%.
Of the 518 auctions reported this weekend a total of 292 sold and 226 were passed in, 140 of those on a vendors bid.
Conditions have clearly shifted in buyers favor again and this will continue to be the case over the rest of May with an average of 694 auctions each weekend, well above the 20 year average of 551.