You are pricing Balwyn and the first number that matters is $1,357,354. That is the current median house price from settled sales, not agent optimism, and this gives you the buyer reality before you waste Saturdays chasing the wrong listings.
The Verdict
The median Balwyn house is the benchmark to use: $1,357,354, with units sitting much lower at $517,335. If you only remember one thing, remember the gap. Balwyn is still a family-house market first, and the unit number is not a cheap version of the same product. It is a different buyer decision entirely.
The house market looks steady rather than explosive. Houses are up 0.9% year on year, days on market are sitting at 63, and the auction clearance rate is 81%. That tells you good homes are still competitive, but buyers are not blindly paying anything. Units are softer, down 2.1% year on year, but the rental yield is stronger at 5.4% compared with 4.4% for houses. If you are buying to live in, the house median is the number to anchor around. If you are buying for yield, the unit market deserves a harder look. Do not treat the $517,335 unit median as a shortcut into the same Balwyn lifestyle as a family house. You will regret it if what you actually need is land, bedrooms, and auction-grade family appeal.
Local Reality
Balwyn is not a market where the suburb median tells the whole story. The current 3-bedroom house median is $1,357,354, but the reported range runs from $1,153,750 to $1,560,957. Step up to 4 bedrooms and the median jumps to $1,764,560. For 5+ bedrooms, the median is $2,171,766. That is the real pressure point for upgrading families: the jump from a workable family home to a larger long-term home is not small.
Units are the more affordable entry, but the numbers still need context. A 1-bedroom unit is sitting around $388,001, a 2-bedroom unit around $517,335, and a 3-bedroom unit around $698,402. The 2-bedroom unit is the cleanest comparison point because it matches the rental median of $545 per week and a 5.4% annual yield. That is the strongest yield story in the article, especially against a 1.7% vacancy rate.
The recognised names behind the numbers matter here: REIV, Domain, and CoreLogic. These figures are based on settled sales for the 12 months to March 2026, not asking prices, campaign quotes, or agent estimates. Skip this if you are trying to value one unusual property from a suburb-wide median. Condition, aspect, and exact location can move the price materially. If you are already stretching west or away from the streets you actually want, compare the next suburb properly before assuming Balwyn is still the right buy.
Who This Suits
If you are an upgrading family, use the 3-bedroom and 4-bedroom house medians as your decision frame. A 3-bedroom house around $1.36 million is the middle of the market; a 4-bedroom house around $1.76 million is where the serious family competition starts. If you are a first-home buyer, the unit median at $517,335 is the more realistic starting point, especially once the deposit math is included. If you are an investor, the 2-bedroom unit is the cleanest number to test because the stated rent is $545 per week and the yield is 5.4%. If you are chasing prestige or long-term family space, budget against the 5+ bedroom median of $2.17 million, not the suburb-wide house median.
Cost expectations are blunt. A 20% deposit on the median house is about $271,470, before stamp duty, legals, inspections, loan costs, and moving costs. Stamp duty on the median house is listed at $74,654, or $61,080 for eligible first-home buyers with concessions. For units, the 20% deposit figure is about $103,467. That difference is why the unit market looks tempting, but the trade-off is obvious: less land, less family flexibility, and a different resale audience.
Timing matters too. A 63-day median selling period does not mean you can take 63 days to decide on the right property. With an 81% auction clearance rate, good listings can still move fast when pricing is sensible. Early 2026 data also shows houses creeping up while units are sliding, so the seasonal caveat is simple: do not rely on last year’s mood if you are bidding this quarter.
What to Do Next
Use $1.36 million as the house benchmark, $517,000 as the unit benchmark, then pressure-test your deposit and stamp duty before inspecting. For the broader suburb view, read the Balwyn property market guide.
Current Median Prices
| Property Type | Median Price | YoY Change | Rental Yield |
|---|---|---|---|
| Houses | $1,357,354 | +0.9% | 4.4% |
| Units/Apartments | $517,335 | -2.1% | 5.4% |
Market Indicators:
- Days on market (median): 63 days
- Auction clearance rate: 81%
- Total sales (last 12 months): 87 settled
Price Breakdown by Bedroom Count
Houses
| Bedrooms | Median Price | Price Range |
|---|---|---|
| 2-bedroom | $950,147 | $814,412 - $1,085,883 |
| 3-bedroom | $1,357,354 | $1,153,750 - $1,560,957 |
| 4-bedroom | $1,764,560 | $1,560,957 - $2,036,031 |
| 5+ bedroom | $2,171,766 | $1,900,295 - $2,714,708 |
Units & Apartments
| Bedrooms | Median Price | Price Range |
|---|---|---|
| 1-bedroom | $388,001 | $310,401 - $439,734 |
| 2-bedroom | $517,335 | $439,734 - $594,935 |
| 3-bedroom | $698,402 | $620,802 - $776,002 |
Growth Trend (5-Year View)
| Year | House Median | Unit Median |
|---|---|---|
| 2022 | $1,310,395 | $563,237 |
| 2023 | $1,321,980 | $551,393 |
| 2024 | $1,333,667 | $539,798 |
| 2025 | $1,345,458 | $528,447 |
| 2026 (YTD) | $1,357,354 | $517,335 |
Rental Market
| Property Type | Weekly Rent | Annual Yield |
|---|---|---|
| House (3br) | $1158/wk | 4.4% |
| Unit (2br) | $545/wk | 5.4% |
Vacancy rate: 1.7% (tight market, landlord-favourable)
Data sources: REIV quarterly median reports, Domain suburb profiles, CoreLogic RP Data. Figures represent settled sales for the 12 months to March 2026. Individual sale prices vary significantly based on condition, aspect, and exact location.
