A three-bedroom townhouse located at 1/85-87 Burlington Street in Crows Nest, Sydney, was sold at auction for $2.15 million, which is $205,000 less than its previous sale price of $2.355 million in 2023. The auction, held on Saturday, saw only one registered bidder, contrary to the sales agent David Benjafield's expectations of three. He attributed the lack of participation to financing issues among potential bidders, reflecting a broader trend of caution in the current real estate market. Benjafield noted that the market has experienced a rapid correction, with a reported 10% decline in the area, despite official reports indicating only a 0.9% decrease. The successful bidder, a woman downsizing from nearby Mosman, was drawn to the townhouse's convenience and safety. Meanwhile, another property in Marrickville, a four-bedroom terrace, sold for $1.65 million, attracting four bidders, with plans for renovation by the new owners. The current market conditions are prompting buyers to carefully consider renovation costs and financing options before making decisions.