About 50 people gathered for the auction of the architecturally designed house on Buckingham Street, which boasts two bathrooms after a renovation and extension at the rear of the property.

An opening bid of $850,000 was accepted by auctioneer Lachlan Hutchins, of Stean Nicholls Real Estate, as two parties competed for the home with rises of $10,000, which saw it quickly jump to $890,000.

Offers then reduced to $5000 increments between the pair as the price crept up to $910,000 before the home was passed in.

Mr Hutchins confirmed the property had sold shortly after the auction for an undisclosed price higher than the final bid.

"It's a fantastic home, beautifully renovated. The owners are builders, so you know that the attention to detail in that extension to the rear has been done absolutely perfectly," he said.

"Architecturally designed, you don't see extensions and renovations done like this. It has some real flair.

"The whole place has got great flow and a beautiful feel to it. It's a hard house to find that's for sure.

"It's a fantastic area of Albury, it has become a real extension of central. The prices here have really jumped up and you can see why with the beautiful flat blocks and wide streets."

Mr Hutchins passed in another four-bedroom, two-bathroom home set on more than 1100 square metres of land on Stedman Crescent in West Albury after it failed to attract a bid.

Stean Nicholls Real Estate is in negotiations with parties to sell a two-bedroom apartment on Griffith Street in central Albury after it was passed in for $405,000, as well as a three-bedroom property on Bernhardt Street in East Albury that also failed to sell under the hammer on Saturday.

Meanwhile, a vacant 3.9-hectare block on Greta Drive at Hamilton Valley was passed in at auction by Get Leased and Get Sold Properties.