What is a good auction clearance rate?
A good Auction Clearance Rate would be 70 – 75% percent, or higher. This is an indicator of a market where demand exceeds supply — and this is what we’re after as investors. A poor market would be one where supply exceeds demand, and you might see Auction Clearance Rates as low as 40%, or even 0%.
What is passed in auction?
When a property up for auction is ‘passed in’, this means the top bid hasn’t met the vendor’s expectations (i.e. it isn’t as high as they were hoping for). If this happens, the highest bidder will be asked to step inside to carry out private negotiations with the vendor’s real estate agent.
What does price withheld mean?
It said “price withheld”. It depicts how many real estate listings show prices after they are sold, and how many do not show the price.
Why do agents withhold prices?
The vendor or buyer didn’t want to disclose the price In many cases, either party might decide to withhold simply for the sake of privacy. People can be nosy, and everyone’s an expert! So, not disclosing the price prevents unwanted opinions and protects your financial status.
What is a low auction clearance rate?
Anything below 60% in Sydney is generally considered a low auction clearance rate.
What is a low clearance rate?
A low clearance rate, such as 60 per cent, indicates low auction interest and declining house prices, which suggests it’s a buyer’s market. Alternatively, a high clearance rate, such as 75-80% per cent, is considered a ‘hot market’ as buyer demand is high and available housing stock is low.
Why do auctions fail?
The common explanations given for the lack of popularity of the auction method in the US, viz., issuer reluctance to try a new experimental method, and underwriter pressure towards methods that lead to higher fees, do not fit the evidence.
Why are some auction prices withheld?
The vendor or buyer didn’t want to disclose the price Both the vendor and the buyer have the right to choose whether or not the final sale price is revealed. In many cases, either party might decide to withhold simply for the sake of privacy.
Why would a sold price be undisclosed?
Often an off-market transaction comes with the request of an undisclosed sale price, again because the seller does not wish to call attention to the fact that they have sold their home. In some cases, it is the buyer who does not want the final price to be known, more so than the seller.