Market Monitor
April-June 2024
Unparalleled in our local marketplace
Welcome to the latest instalment of the Ray White Market Monitor, reporting on the April to June quarter of 2024.
This document is your window to the industry, revealing detailed statistics we collect on everything from auctions through to property management. The quality, depth and timeliness of this data reporting is unparalleled in our local marketplace. Quite simply, nobody is doing this.
Inside these pages you will find a rich array of our collective data and results along with a selection of our auction success stories from the quarter.
We have highlighted our property management statistics, buyer inspection reports and finally, our involvement in the communities we call home.
Ray White Maroochydore
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Ray White Mooloolaba
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Ray White Nambour
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Auction Report
QUARTER COMBINED | April-June
PREVIOUS QUARTER COMBINED AS AT 30 June
WHAT THESE FIGURES SHOW
• Average bidder numbers have held firm over the first half of 2024, with an average of 2.33 bidders per auction in this reporting period.
• Competing buyer interest is what drives prices so it was pleasing to see that on average buyers paid 3.6% more for the property when compared to the highest pre-auction offer.
• The timeframe to sell a property broadly has extended, however it is pleasing to note that our auction campaigns held tight at 33 days on market to sell.
• With an effective clearance rate of 59% and success rate of 82%, we do expect this success % to increase in the coming weeks as post auction negotiations close out after this reporting period finalised.
Where do our Buyers Come From?
APRIL MAY JUNE
While the local market dominates the origin of most buyers on the coast, we do see more buyers originating from Brisbane and/or South East Queensland from time to time, this was particularly evident in June.
Auction Results April-June
11 Endota Street Buderim
2/20-22 Baden Powell Street Maroochydore $795,000
3/27 Blanck Street Maroochydore $530,000 WITHDRAWN 4/139 Bradman ave Maroochydore
13/75 Sixth Avenue Maroochydore $595,000
WITHDRAWN 16/110 Sixth Avenue Maroochydore
123 Sunshine Cove Way Maroochydore $1,225,000
56/19 Memorial Avenue Maroochydore $1,500,000
21 Blackwood Street Maroochydore $925,000
Buyer Inspections
APRIL MAY JUNE
2,649 total inspections
2,028 total inspections
2,219 total inspections
516 number of open homes
664 number of open homes
715 number of open homes
892 private treaty inspections
1,757 buyer inspections at auctions
954 private treaty inspections
1,073 buyer inspections at auctions
956 private treaty inspections
1,263 buyer inspections at auctions
Buyer Inspections Total
QUARTER COMBINED | April-June 2024
6,896 total inspections
1,895 number of open homes
2,802 private treaty inspections
4,093 buyer inspections at auctions
• With 129 auction campaigns run in the quarter, this attracted over 4000 buyer inspections for an average of 31 buyer groups per campaign. The same period recorded 2802 inspections at the some 105 campaigns run with properties marketed at a price, representing an average of just 22.
• Recording a total of 6896 inspections in the period shows how strong the Sunshine Coast property market remains, despite the fact interest rates have risen and are likely to stay higher for longer.
Private Treaty Report
QUARTER COMBINED (average) April-June
QUARTER COMBINED (average) PREVIOUS QUARTER
• It’s taking around 10 extra days on market to sell properties marketed with a price as opposed to auction, further the 90 days success rate is also around 20% lower than that of auction campaigns.
• While choosing a strategy of price as opposed to auction does come with it a success rate of close to 80% over 90 days, the evidence is clear that auctions generate more buyer interest, sell sooner and often obtain a stronger price based on bidder competition.
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