Virginia’s Real Estate Market Heats Up With Lightning-Fast Home Sale in 12 Hours

61 Prince St Virginia
Photo Credit: Google Maps

Drew and Larissa Ezzy, a dynamic property renovating duo, have achieved an astonishing feat — the cash unconditional sale of their newly constructed home in Virginia within 12 hours of putting it on the market. 

The couple’s strategic decision to wait until spring to list their latest project paid off significantly, setting a new suburb record in the process.

The Ezzys recently sealed the deal on their stunning five-bedroom, three-bathroom house located at 61 Prince St, Virginia, for an impressive $2.45 million. This sale eclipsed the previous suburb record set in December 2021 when a residence in Royal Street sold for $2.285 million.

In 2021, the Ezzys purchased the original home for $1.05 million. Over the past two years, they embarked on a substantial rebuild, transforming the property into a highly desirable residence.

“We thought Virginia was just an industrial estate, but a block came up for sale at the back of Wavell Heights, north to the rear, and the perfect corner block, so we just thought building on it would attract a decent figure,” Drew said.

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Selling agent Tyson Clarke of Queensland Sotheby’s International Realty reported that the property was swiftly snatched up by a local buyer who didn’t hesitate to make a cash unconditional offer. The listing went live on a Wednesday afternoon and was officially sold by lunchtime the following day. 

A prospective buyer from Canberra had intended to fly in to secure the property but was outpaced by the local buyer’s rapid decision.

These extraordinary events have unfolded amidst a broader trend in Brisbane’s real estate market, where new listings have seen a decline of more than 10 percent compared to the same period last year. The scarcity of available listings has intensified competition among buyers, making properties like the Ezzys’ home even more sought after.

The Ezzys, who have been buying, renovating, and selling properties for profit over the past eight years, briefly contemplated retaining this particular property as their forever home. Mr. Ezzy described it as a “very liveable, nice house” with a classic Queenslander feel. However, the allure of property development and a desire for financial freedom ultimately led them to list the property for sale.

Published 18-Sept-2023