Real estate Adelaide continues its boom as houses sell up to four times as fast as they did a year ago.
According to realestate.com.au data for the six months to April 30, Gilberton is the fastest selling suburb for houses with median time of 13 days on the market. This is a significant improvement from 35 days for the same period last year.
Hyde Park and Sefton Park houses follow with median market time of 17 days, while Clarence Gardens and Melrose Park houses sell in 18 days.
For units, Kensington Gardens rises to the top with 19 days, less than a third of last year’s 65 day median. It is followed by Brompton with 20 days and Klemzig with 22 days, way down from its 88 days last year.
Realestate.com.au chief economist Nerida Conisbee said sale times would continue to go down due to the declining stock trend over the winter.