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Despite another weekend of auctions still to take place, Melbourne's real estate market has proved to be more prosperous in March, according to the Real Estate Institute of Victoria (REIV).
The month's clearance rate is sitting on 67 per cent, with 60 per cent the success rate for March 2012.
March's 67 per cent clearance rate is a reduction from the 72 per cent success rate in February, but this has been attributed to more auctions.
The auction results have also seen a rise of nine per cent in the number of sales, with private sales also contributing to the figure, the REIV explained.
"Comparing sales volumes in March can often be complicated by where Easter falls and as it occurred in April last year it may have overstated the market in March," it stated.
"This is a very healthy improvement as it shows overall market activity is higher as more people are actively buying and selling."
The auction results also proved to be positive in regards to value, with last weekend seeing $923 million sold. That figure is the highest of any weekend in March, while being the most valuable weekend since an April 2010 weekend.
