Credit: The Mosman DailyA MOSMAN house sold for a whopping $1 million above expectations on Saturday as agents report more market confidence than last year.
The McLean Cres home was sold to local residents for $5.5 million through Paul Gotch of Gotch Real Estate.
“The owner suggested they hoped for around $4.5 million and I thought about the same,” Mr Gotch said.
“We were planning a four-week marketing campaign and on the same day the first advertisement appeared in the paper, the house exchanged,” he said.
The contemporary three-bedroom house with direct access to Chinamans Beach was pursued by two parties.
“The one who bought was a local and didn’t want to risk losing it so offered that price,” Mr Gotch said.
It last sold for $3.75 million in 2004.
There were other strong sales on the weekend. A home at 33 Illiliwa St, Cremorne, sold for $228,000 over the reserve.
Sold at auction for $1.925 million, there were four registered bidders, with three parties bidding.
“We were expecting in the high-$1.6 million range as this was all the buyer inquiry indicated throughout the campaign and there was no evidence of recent surrounding sales to suggest otherwise,” Ray White Lower North Shore marketing agent Jenny Bross said.
“It was a pretty ordinary house. However, on the day, competition just pushed it up to that level, leaving us (the agents) standing there with our mouths open.”
On the same day, a large family home with a swimming pool in Crows Nest Rd, Waverton, sold for $185,000 over the reserve through Heidi Brown and David Hill of Raine and Horne Crows Nest.
“During the campaign we had 180 groups through the property, issued 12 contracts and had four active bidders on the day,” Ms Brown said.
“David and I were thrilled with the result but not surprised. The size and quality of a property like this doesn’t come to market very often.”
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