An extensively renovated four-bedroom residence at 1 Bula Street in Charlestown was reportedly snapped up before reaching the market for $1.4 million.

Jesse Wilton, of PRD Newcastle and Lake Macquarie, launched the eye-catching home to their database with a guide of $1.3 million and it was sold within 24 hours.

According to Australian Property Monitors data, it was the second-highest price paid for a home in Charlestown. The top mark is $1.8 million, which was paid for a significant home on around 1500 square metres of land at 41 Highland Close in May last year.

"Comparables were few and far between," Mr Wilton said of the Bula Street residence.

APM data shows the median residential sale price in Charlestown rose to an all-time high of $660,000 last year for 195 sales. In 2019, the median was $600,000 for 167 sales.

Related content:

The third-highest sale for Georgetown was set when First National Newcastle City's Tom Lemke sold a classic weatherboard house at 50 Christo Road on Monday for $1.025 million.

The thee-bedroom house on a 424 square metre north-facing block was at first launched off-market with a price range of $850,000 to $900,000 after another strong sale in the suburb. Ten groups went through without an offer made.

The property was then launched to to the full market and scheduled for auction today. Mr Lemke reported around 60 groups through the property within a fortnight with multiple offers before the sold sticker was put up this week.

According to APM data, it is only the third sale over $1 million for Georgetown. The suburb's highest sale remains $1.09 million, which was paid for a beautiful Federation home on a block around 910 square metres in size in Parkview Street in 2016. The other was $1.035 million in 2018 for a five-bedroom Federation home in Fletcher Street.

APM data shows the median sale price in Georgetown was $607,500 for 34 sales in 2019 then $682,500 for 48 sales last year.

"Georgetown is just playing a bit of catch-up from nearby Mayfield having a good run," Mr Lemke said. "It's definitely a really good result for the area."

A street-high result is believed to have been recorded when Belle Property Lake Macquarie sold a custom-built, four-bedroom home with a pool and expansive views at 11 Lucilla Ridge in Macquarie Hills (pictured bottom right) for an undisclosed sum that is rumoured to be $1.325 million. It sold after 10 days on the market.

Belle Property also sold 8 Armour Drive in Cameron Park in 14 days for $881,499.

Robinson Property's Mike Flook reported the sale of 26 Corlette Street in Cooks Hill for $895,000 before any official marketing and 25 Stanley Street, Merewether for $2.45 million before hitting the market.