Mighty March – the Market Powers On – March 2022
Earlier this year there was a hint of hesitancy as property watchers speculated if the market would continue its Bull Run of the past 2 years. Elevated sales activity during March convincingly established that the market remained on a firm footing with the backlog of buyers matching the low but steady stream of listings coming onto the market. Our auction clearances remained steadily above 80% with those not selling under the hammer mostly coming together in the following week.
$100,000,000+ of sales negotiated through our company over the past month is a clear barometer of the market health, and an unprecedented number of buyers genuinely searching and waiting for the right property reinforce our positive view.
The beachfront was ‘white hot’ during March along the Sunshine Beach foreshore with 5 houses and allotments on the front row selling, all through our agents. Included was a house on a double block at 4 Arakoon Crescent which sold for $21,500,000, and land at 26 Park Crescent which sold for $11,200,000. Details of the others can’t be released quite yet. The aspiration of living right on the beach is the Holy Grail for many and with only 63 in existence the future value of this prized location will always be underpinned.
There is no buyer segmentation, with sales occurring confidently at all price levels. Even though our average sale sits in excess of $3,000,000, we have a high number of buyers for properties under $1,500,000 with several apartments selling between $600,000 and $800,000. We desperately need more properties to offer.
A 3 brm apartment in Number 1 Hastings Street selling for $7,000,000 was one of 5 exciting sales in the final auction weekend of the month. Immediately prior, a circa 1960 vintage Little Cove apartment in Tenalga was knocked down for $2,865,000 as well as a townhouse at 53 Noosa Parade for $2,200,000. Also on Noosa Sound a 1980 vintage house sold for $15,000,000 and land we auctioned at 19 Key Court sold post auction in excess of $6,000,000.
Looking ahead, next month’s exciting offerings are a 40 ha parcel on Noosa’s North Shore endowed with 466 m of pristine beachfrontage, and a thoroughly Hamptons style house at 60 The Peninsula which rates amongst the most beautiful we have ever offered.
Tom Offermann Real Estate is rated the No 1 Agency out of 400 on the Sunshine Coast, transacting more real estate than their next 3 closest competitors combined. In the RateMyAgent 2022 Agent of the Year Awards, Tom Offermann Real Estate once again dominated with wins in the Agency of the Year for the major location categories of Noosa Heads, Noosaville, Sunshine Beach and Marcus Beach. These awards are the largest in Australia and the only major customer choice awards for the real estate industry. Rather than being judged by industry peers, the calculation is based on verified reviews and feedback provided by customers. These awards are a true gauge of customer service provided by an agent, and recognize the Offermann team’s hard work, diligence and absolute dedication to clients across all price points. The culture of cooperation in the office is one of their greatest strengths, and it’s a comment often expressed by clients.
You might be pleasantly surprised what your property is worth now, so whether you are thinking of selling or would just like an update we would welcome the opportunity to assist you.
Wishing all our friends, clients, and visitors to Noosa a happy and safe Easter.
Tom Offermann
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