Theodore home sets suburb record with first million-dollar sale

The suburb of Theodore has recorded its first million-dollar sale and set a suburb record after a six-bedroom home sold prior to auction this week for $1 million, beating the previous benchmark by $110,000.

The property at 18 Weavers Crescent was on the market for two weeks before it sold. It was to be sold at auction on March 13.

Selling agent Brett Hayman of Hayman Partners was confident it would break the suburb record when the house was listed for sale.

According to government records, Theodore’s previous record was set in 2020 when the property at 6 Conlin Crescent sold for $890,000.

“We had more than 40 groups through the residence and three really strong pre-auction offers. The $1 million unconditional offer was something the sellers simply couldn’t refuse,” My Hayman said.

“We had guessed it would sell anywhere between $920,000 to $980,000 but to have a million-dollar sale – and the first million-dollar sale in the suburb – was a nice surprise.

“Of course, that’s because there aren’t many properties on the market, so buyers are putting in their strongest offers.”

For most of the interested parties, the property’s functional floor plan was its major drawcard.

“This property was like two houses in one, which was one of the reasons the sellers originally purchased it,” Mr Hayman said.

“Both floors of the property had bedrooms, its own kitchens and bathrooms, so it worked well for those families that wanted their own space or perhaps for multigenerational living.”

Government records show the property was last purchased in 2014 for $656,000. Under the seller’s ownership, they renovated the entire property and have decided to part with the home in a bid to downsize while the new home owners are upsizing.

Mr Hayman said the latest pre-auction sale is a testament to the level of demand in the market from buyers including first-home buyers, investors and upsizers and their efforts to secure something before they are priced out at auction.

“Auction campaigns usually run for about 28 days. Our average days on market for auction campaigns is 19,” he said.

“That goes to show that more than 50 per cent of the properties we have going for auction are selling prior. A year ago, we were lucky to sell five per cent of properties prior to auction. The market is strong and buyers want something now.