Million dollar property list revealed ... can this home break the record?

A completely revamped 1890 to early 1900s home sitting on 3000 square metres of land has hit the small town's real estate market, listing 118 Bank Street for sale two weeks ago.

But after a three bedroom, revamped home on Riddell Street sold for $1.2 million off the market at the back end of 2022, a five bedroom house doubling its space is a strong contender to replace the record price tag within town limits.

"Yes, this new listing will be potentially record-breaking for Molong," Orange's Peter Fisher Real Estate agent, Jacob Evans said.

"We're expecting that this will be the highest ever resident sale price in the town.

"I've never sold anything in Molong on such a big block that's inside town limits."

The five-year median price trend for house sales in Molong rose from $330,000 in April 2018, to an average of $550,000 as of February, 2024.

Without the volume of heritage-style homes Orange has, Mr Evans says the small town's increasing market sales are a clear indicator of steady growth.

"It wasn't that long ago people thought a million dollars in Molong would never happen and there's been a few, both central to and on the edges of town, go north of a million dollars now," he said.

"We've also got a couple of things coming up that will again be over a million as well.

"So, it's becoming a lot more commonplace to see higher prices, but the quality of the finishings throughout this property in particular is second to none."

Mr Evans said 118 Bank Street offers "beautiful amounts of natural light" flooding into every room.

Double-glazed throughout, the heritage home includes herringbone timber flooring with an open-plan kitchen, living, and dining area.

With an exact land size of 3053 square metres, the space offers future owners the potential to build another storage shed, or to explore the possibility of a second dwelling (subject to council approval) on the large, central block.

"There are very, very few homes of that quality in Molong is the number one thing, and there aren't a lot of double brick homes in town that are also on a block of this size," Mr Evans said.

"It's also a home of two halves, where the original part of the house as you walk through considers that original era, with modern lighting that still incorporates your pull light switches from that time," he said.

"So, it's all been updated, but it still carries a lot of those original features in the older part of the home, before transitioning through to a new and modern open plan style on the back end of the house.

"This home is just filled with top notch finishes in every aspect."

The agent said the property is already on the radars of many potential buyers, with a number of inquiries coming out of the Sydney market.

But there have also been "a lot" of interested people from both Orange and local to Molong, with some living off the land looking to downsize and be closer to town.

"The reason it's drummed up this level of interest already is because it's such a unique property that somewhat caught people off guard when it hit the market," Mr Evans.

"It's very unassuming from the front, which has been another factor of intrigue for people, who are already wanting to put forward offers at this stage.

"I don't think it will last long, but it's also a matter of finding the right people with everything lined up and ready to go."

Outside of the current Riddell Street record-holder, the Real Estate website lists the seven highest selling house prices in Molong.

All capped at 5000 square metres, one house appears on the list twice.

The agent said the 118 Bank Street owners are responsible for the big revamp and are local to Molong.

They originally bought property back in 2011.