How this renovated Canberra home sold in less than a week after a change in agents

A renovated character home located a stone’s throw from the CBD was recently snapped up by an eager local buyer for $2.8 million after just five days on the market.

With a graceful facade and manicured gardens, the four-bedroom house at 56 Euree Street in Reid sits elegantly on more than 1200 square metres of prime Inner North grounds opposite Reid Park and only 950 metres from Civic.

Built in 1926, the home blends modern amenities with unique features such as a yurt and an integrated library.

Allhomes sat down with agent Steve Lowe of Agent Team Canberra to talk about how the historic home sold in the current market.

What made this property attractive to buyers? 

It has that classic Canberra charm and character that is appealing. This house feels homely inside and has been meticulously maintained.

Was there much interest from prospective buyers? 

In the short period of time we were on the market, we had an encouraging level of genuine interest. Plus, with the hindsight that the sellers had been on the market with another agency for 210 days, we had a good feel for pricing. We opted for a private treaty method of sale rather than an auction to be clear to the market about the price.

Is Reid a tightly held suburb? 

Yes, very tightly held. There have only been 14 sales in 12 months. The suburb appeals to professionals and families due to its close proximity to the CBD.

How did you achieve a successful sale? 

The owners had beautiful furniture and art, however, we chose to arrange partial styling through Staged by Flynn to reduce clutter and allow the home to breathe. This, coupled with clear communication with stakeholders, led to a successful sale. This is the sixth sale we have sold within seven days of hitting the market this year.

What should buyers and sellers be aware of as we move further into 2024?

After a tough 2023 market, 2024 has started off very strong. Buyers can look forward to more choice as stock returns to the marketplace. For sellers, we are expecting a small amount of positive growth as confidence returns. However, price growth will not be like it was during the pandemic, and with the extra competition on the market, all offers need to be given serious consideration. An experienced agent to guide you through this marketplace will be invaluable.

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