Tassie’s most popular home sold in just a few days for well above the expected priceon 15/08/2021 at 12:00 AM

AN updated 1950s home in Mount Nelson — sold in mere days for a cracking price — is the latest example of how fast-moving and high-flying Hobart’s property market can be.

Not every listing is going to attract mega crowds or big bucks, but it certainly feels like a lot will.

For EIS Property director Penny Flanagan, taking the five-bedroom No.46 Rialannah Road to market resulted in a whirlwind few days.

Her phone and email blowing up were just a hint of what was to come.

At the property’s first open home, 60 groups showed up to inspect Tassie’s most viewed home of the week on realestate.com.au.

“Out the front, it looked like there were groups turning up to North Hobart Oval for the footy, not an open home,” she said.

“Being mostly families, there were over 180 people at the open.

“A few were from interstate but mainly it was locals.

“The mainland buyers tend to be people that have relocated here for the lifestyle.

“My colleague Ben [Gray] and I were swamped.

“We took about 20 people through the home again a couple of days later, without the big crowd before presenting offers.”

When the home was appraised two months ago, the belief was the property could fetch somewhere in the high $800,000s or early $900,000s.

The owners and the EIS team got to work to present it in the best possible light with styling, cleaning and a building inspection completed prior to launching the property to the market.

Mrs Flanagan said when the offers came in, they kept climbing higher and higher.

She believes there is a sense of FOMO [fear of missing out] among buyers in Hobart at the moment.

“We received seven offers in that $870,000 to $950,000 range, then four more that were over $1 million,” she said.

“One buyer, who has missed out on other properties, spoke to their broker and organised to put in an unconditional offer at $1.052 million, which was accepted.”

In what has traditionally been Tassie’s “quiet” winter period, the market has been anything but, with records tumbling and high prices recorded every week.

Mrs Flanagan said in her 11 years in real estate, she has “never seen it so manic”.

“FOMO has definitely been a factor in pushing prices up, especially with our locals,” she said.

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An outstanding turnout at a Mount Nelson home resulted in the property attracting multiple offers in excess of $1m and selling within days of hitting the market.
The post Tassie’s most popular home sold in just a few days for well above the expected price appeared first on realestate.com.au.