Blockbuster 2024 & Sizzling Summer Forecast

TOM OFFERMANN REAL ESTATE’S YEAR IN REVIEW | december 20, 2024

What a wonderful time of the year!

With visitors descending upon Noosa for well-deserved holidays and festivities, most urban real estate agencies are also in holiday mode, however for Tom Offermann Real Estate agents and support teams, it’s all hands-on deck as usual.

After closing out another blockbuster year, Tom says “it’s worth taking a moment to reflect what all these sales have meant for our clients, and how it has empowered them to move on to other properties, projects, and to other places. Virtually every sale had life changing circumstances, and in so doing contributes to positive outcomes, and inevitably makes our roles in real estate so engaging and rewarding.

“We sell hundreds of properties every year, and contrary to most people thinking we sell only premium properties, there’s a wide price range. The sales however that make the headlines and get people talking are the blockbuster sales. Not so long ago $5m was the benchmark for blockbusters, but now it’s $10m. In 2024 there were 19 of them in Noosa (compared to eight in 2023) with an aggregate value of $284m and average of $14.95m. The team negotiated a whopping 92%!

43 Witta Circle

“The highest sale for the year locally as well as Queensland, was $30m for a stunning waterfront home on Noosa Sound’s Witta Circle. The next two highest were also waterfront stunners nearby on popular Noosa Parade, both achieving more than $20m.

3 Allambi Rise

“Popular Little Cove proved a major hotspot with four blockbusters all sold by auction. A cottage on Allambi Rise was sold under the hammer for $16.9m, just as a storm cracked ominously overhead. Nearby Lumiere, a 7-bedroom house in Bayview Road, sold for $15m and a Hastings Park apartment opposite Noosa Main Beach sold for $12.5m, after 30 years in the hands of the same family.

“Beachfront house sales at Sunshine Beach are always the litmus test of the market and the auction of 38 Seaview Terrace, was one to watch. The US-based seller, who had owned it for around 20 years, was pleased to receive the call after the auction, with the great news it had sold for $13.1m. Needless to say the Brisbane-based buyer was thrilled.

38 Seaview Terrace

“The number of properties for sale is slowly increasing so for buyers there’s more choice and a little less urgency, however during the closing stages of 2024 most properties are selling in the first 30–45 days on the market, with two or three buyers typically in the equation. Auctions are also producing superb results in every price range and property type. A recent example was a 3-bedroom apartment in Mitti Street, Little Cove, which received a staggering 31 additional bids after being called ‘on the market’ before selling for $2.51m. The owners were overwhelmed as you can imagine, as each additional bid added to their unexpected windfall.

2/3 Mitti Street

“In 2025, there’s a prospect of some interest rate movement, as well as the certainty of a federal election, both of which will have some influence on the real estate markets. However, the major influencers for the Noosa area is supply and demand which I believe will stay at relatively unchanged levels for at least the first half of the year.

“Long-term, there’s no doubt the future holds nothing but blue sky for property,” says Tom. “Wherever you travel in the world there’s no place like it - that’s what the well-travelled keep reminding us. Yes, there is only ONE Noosa! Enjoy.”