Prestige Property Market Update

market confidence next level | may 27th 2024

Property listings remain in tight supply and this constrained competition is great news for sellers. Buyers largely outnumber available properties with higher than usual activity from local buyers in the first three months of the year. This is quite normal because unlike Noosa, property markets in capital cities go into shutdown during January holidays, swings into action from February with settlements one or two months later resulting in an influx of cashed up investors in Noosa ready to buy.

43 Witta Circle listed at $35m, sold in under 30 days, setting a fresh Noosa Sound record.

Some hesitant buyers, anticipating a market surge of new listings due to higher interest rates, are now re-entering the market realising the current scarcity is the norm.  Compared to the frenzied post Covid panic buying, people are generally more meticulous in their research, yet when presented with a unique property, they act decisively. This was evident in two high-value sales totaling over $50 million facilitated by our agency in recent weeks.

Our in-house media team and agents were on the waterside of 40 Noosa Parade on Noosa Sound filming when a long-term client in a boat spotted them and promptly enquired if it was coming to market. There was no hesitation, and within a day the unconditional contracts were signed on a purchase over $20m that delighted both parties.

Close by we had the privilege of listing 43 Witta Circle for $35m, striving to establish a new record for the owners, and if any house was going to achieve the figure, this was it.  Our team combed the client base inviting qualified buyers to view the house privately and found the ideal match and negotiated the unconditional purchase just two weeks into the campaign.

Tom Offerman Real Estate has been a trusted pillar of the community for over three decades, helping over 20,000 buyers and sellers make life-changing decisions, and create wealth through property. Our pride lies not just in the transactions but in the relationships we build – the trust, laughter and the shared excitement of new beginnings.

Marque your diaries for Saturday 13 July 2024 for the Noosa Concours d’Elegance on closed-off Hastings Street, a celebration of automobile masterpieces for the curious, and connoisseurs of art and style, to gather and admire, including 50 of the rarest vying for the Best in Show Award.

Sponsoring events like these forges new connections which are priceless when selling properties for our clients. There is only one Noosa. Enjoy!