A record has been broken with the recent sale of a home in Chapman Street, Cessnock.
The home was sold by private treaty for $700,000 on November 27, breaking the previous record price for a residential property in the suburb of Cessnock by $50,000.
Selling agent Heath Baird, of Baird Real Estate, said it was a significant moment for the local market.
“It’s a whole new ball game – Cessnock’s never achieved $700,000 before,” he said.
“I’m really stoked that we’re moving the city forward.”
Mr Baird said the master-built home will be a magnificent place for the buyers to raise their three children, with its A-grade construction, multiple living areas and Convent Hill location.
Mr Baird has held the residential sales record for Cessnock at least five times in his two-decade real estate career.
The first time was in October 1998, when he sold the first residential property to break the $300,000 mark in Cessnock. That home, in Ann Street, sold for $310,000, breaking the previous record by $70,000.
Just as he was excited to move the local market into the $300,000s, Mr Baird is equally as thrilled to move it into the $700,000s, almost 20 years on.
And, he predicts Cessnock’s first seven-figure sale isn’t too far away.
“There are homes in Cessnock that are worth it, they’re just not on the market yet,” he said.
“It won’t be too long before that million-dollar mark is eclipsed.”
The previous record of $650,000 was held by a home on Muirfield Avenue (in the Stonebridge development), sold by Sternbeck’s Real Estate in November 2014.