Private treaties in regional Victoria most common way to sell
Private treaties were the most popular way to sell properties in regional Victoria in April, the Real Estate Institute of Victoria has revealed.
REIV data shows the best-performing private sale markets were Irymple with 26 days on the market, followed by Newcomb with 27 days on the market, Corio with 28 days on the market, and Lara, Geelong West and East Geelong with a median of 29 days on the market.
Across the board, regional homes on average sold in 51 days, the lowest median in the last seven years.
The area that recorded one of the state’s largest improvements in the median of days sold was Lorne at 54 days, which was 43 days faster.
Next was Cape Paterson and Kerang, with median days of 69 and 74 days respectively, selling 41 days faster.
The Geelong suburb Armstrong Creek also performed well, with a median of 46 days, selling 40 days faster. Castlemaine recorded a median of 62 days, selling 32 days faster, and Drouin had a median of 35 days, selling 28 days faster.
Kilmore had a median of 56 days, selling 28 days faster, Wangaratta had a median of 31 days, selling 25 days faster, and Clifton Springs had a median of 41 days, selling 25 days faster.