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The auction results are in for Melbourne's most recent weekend of sales (March 16-17) and the 69 per cent clearance rate is well ahead of the 58 per cent recorded for the same two days last year.
Of the 804 auctions that took place, 557 were sold while 257 were passed in - 134 of which were on a vendor bid.
Real Estate Institute of Victoria (REIV) chief executive Enzo Raimondo said some positive sales have been recorded so far this year.
He said: "This year there has been an increase in the overall value of residential sales at auction with $1.8 billion worth of homes having sold compared to $1.5 billion this time last year. The value of private sales is also estimated to have risen from $3.9 billion to $4.5 billion.
"Next weekend, the REIV expects around 1,210 auctions and this is likely to be the fifth biggest weekend on record."
A Brighton property recorded the highest selling price, going under the hammer for $4.85 million, while the top bargain on the REIV list was a $156,000 Pakenham home.
The most expensive apartment to sell over the two days was a $1.8 million Glen Iris unit, while a $168,000 Frankston unit was deemed as the best bargain for apartments.
