The selling price of Wendouree, at number 68, fell just short of the $2.6 million CBD residential record set in August by the James Dalton-built Orange landmark, Mena Mansion.

Selling agent Alistair Miller of Professionals Orange said the home was originally a bank manager's residence.

"It was built by the ANZ bank early in the last century (1908). They felt they needed to provide good accommodation if they were going to entice a businessmen to come up from Sydney to be a bank manager in Orange," he said.

It was only the third time in the home's 100 year-plus history that it had been offered for sale.

The five bedroom Federation-style home boasts original features including leadlight windows, high ceilings, oak panelling, five fireplaces and parquetry flooring. It also has a 600 bottle wine cellar.

A sympathetic renovation added an upper level and a connection of the original stables creating garaging for three cars.

The home is in a central location and sits on a huge 1916 sq m block.

Mr Miller says the property was first brought to market about a week before the Sydney lockdowns

"We had to cancel the auction we had planned as buyers from out of town were not able to attend."

It attracted plenty of interest when it was put back on the market in October.

"We had 114 enquiries and 54 inspections," Mr Miller said.

"Basically within a week of it being brought back to market it had been snapped up."

The buyers are a couple from Coonamble coming off the land and moving to be closer to family, Mr Miller said.

"They want to have family and friends over when they need to that's why they wanted a big home."

He said they would work to keep the property in its "beautiful condition."

The Byng St sale comes just weeks after two other CBD Homes at 47 and 49 Kite St sold for $2.1 million and $2 million respectively.

Mr Miller said a lack of supply continued to put upward pressure on prices.

"There are a lot more buyers than there are listings. There are a number of buyers who have missed out on properties two or three times and they're willing to pay more than they were wanting to because of the scarcity."

He said a two bedroom home he recently had on the market received three offers all over the asking price: "It's just unheard of."

Orange's broad industry base made it an attractive option for buyers, Mr Miller said.

"People aren't panicking about paying top dollar because they know they're just getting on the escalator."

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