• Tue. Oct 3rd, 2023

    Bellevue Heights Property Sells for Over a Million Dollars in Competitive Market

    BySharna Bass

    Sep 19, 2023
    Bellevue Heights Property Sells for Over a Million Dollars in Competitive Market

    A recent property sale in Bellevue Heights has generated significant interest, with 25 offers being made for the four-bedroom, two bathroom house at 6 Gorge Rd. The home attracted 130 groups of potential buyers over a two-week period, ultimately selling for $1.022 million. This price is $522,000 higher than its last sale price in September 2018.

    Selling agent Reece Pilgrim from Ray White Norwood credited the home’s extensive renovation as the main factor behind its popularity. The sellers had taken the initiative to renovate the property, making it move-in ready and appealing to buyers. The house’s location on a desirable street also contributed to its high demand. The property received inquiries from both local and interstate buyers, including those from Melbourne and Sydney.

    Despite the sellers initially hoping for a sale price around $900,000, the final result exceeded their expectations. The buyers of the property were a local family who were drawn to the spacious 790sq m property, which features a large outdoor entertainment area with a pizza oven.

    The sale of 6 Gorge Rd is significant considering the scarcity of million-dollar properties in Bellevue Heights. Only four properties have sold for over a million dollars in the suburb this year, and there are just 11 homes that have sold for a seven-figure price in the area.

    According to PropTrack data, the median house price in Bellevue Heights is currently $818,000, making this recent sale significantly higher than average.

    Renovation can greatly increase the value and appeal of a property, and this sale serves as a testament to the effectiveness of a well-renovated home in a competitive real estate market.

    – PropTrack data
    – Reece Pilgrim, Selling agent from Ray White Norwood