What’s the scoreboard say for Queenstown Property Sales


The New Zealand Breakers are soon to contest for the first time the Australian National Basketball League finals. You can sure at each quarter timeout the coach and statistician will rattle off a blistering array of stats to identify where they must muscle up on ‘D’ (Defense) and exploit opportunities on offence.

Queenstown realtors also have the ability to analyse their game stats and so let’s share some baseline numbers.

  • Scoreboard: Total property sales calendar year-to-date 2011 number 141 versus 140 last year
  • Assists: Floating home mortgage rates of 5.6% in 2011
  • Blocked Shots: A few Mortgagee Auctions still get cancelled at the 11th hour
  • Slam Dunks: 13 residential sales + $1.0M in 2011 versus 5 sales 2010
  • Free Throws: Land sold at Silent Auction at Jacks Point
  • Zone Defense: Buyers sit tight on the baseline until the price makes sense
  • Fast Breaks: Sub $600K dwellings (excluding Apartments) is the play to watch representing 65% of the sales year-to-date 2011 and 66% same period 2010

The franchise teams and independent realtor brands are hard at it playing one-one one with prospective buyers as the game clock ticks by in 2011.

Those that can pivot and change direction with speed to adapt their game plan on court will always prevail.

Go the New Zealand Breakers in the finals!

Queenstown Area Sales by Property Type Year-To-Date 2011 comparing 2010

□ Report compares aggregated sales January through March inclusive 2011 v 2010 □ REINZ reported sales. Private sales not included.

Property Type 2011 2010 Variance +/-
Residential Dwellings (RD) 66 sales 71 sales    -7.1%
RD Median Sell Price $575,000 $550,000   +4.5%
Apartments (A) 12 sales 15 sales -20.0%
A Median Sell Price $577,500 $415,000 +39.1%
Units (U) 27 sales 22 sales +22.7%
U Median Sell Price $350,000 $451,000 -22.4%
Townhouses (TH) 4 sales 3 sales +33.3%
TH Median Sell Price $588,500 $500,000 +17.7%
Residential Sections (RS) 30 sales 24 sales +25.0%
RS Median Sell Price $308,500 $302,500   +1.9%
Rural (R) 2 sales  5 sales -60.0%
R Median Sell Price $1,090,000 $1,185,000   -8.1%
Total properties Sales 141 sales 140 sales  +0.7%
Total Value ($) of sales $83,093,689 $82,532,798  +0.6%

 

Analysis of Sell Price: January / March-2011 comparing January / March 2010

Type: Residential Dwellings, Units and Townhouses (Excludes Apartments)

 

Sales Price Point(Residential All Types) January / March  2011 March / March 2010
$25K>$199K   1.0% of total sales   4.2% of total sales
$200K>$299K   7.2% of total sales   5.3% of total sales
$300K>$399K 17.6% of total sales 12.6% of total sales
$400K>$499K 17.6% of total sales 19.7% of total sales
$500K>$599K 21.6% of total sales 25.0% of total sales
$600K>$749K 14.5% of total sales 17.7% of total sales
$750K>$999K   7.2% of total sales 10.5% of total sales
$1M > $1.249M   1.0% of total sales   1.0% of total sales
$1.250M > $1.499M   8.3% of total sales   1.0% of total sales
$1.5M >$1.749M   2.0% of total sales   1.0% of total sales
$1.750m >$1.99m   2.0% of total sales   1.0% of total sales
+$2.0m     1.0% of total sales

Analysis of Sell Price: January / March 2011 comparing January / March 2010

Type: Vacant Residential Land

 

Sales Price Point(Residential All Types) January / March  2011 March / March 2010
<$199K 33.0% of total sales 12.5% of total sales
$200K>$249K   6.7% of total sales 25.0% of total sales
$250K>$299K 10.0% of total sales 12.5%% of total sales
$300K>$399K 13.4% of total sales 20.8% of total sales
$400K> $499K 10.0% of total sales 12.5% of total sales
$500K>$599K   6.7% of total sales   8.3% of total sales
$600K>$699K   6.7% of total sales  
$700K>$799K     4.2% of total sales
$800K>$999K 10.0% of total sales  
$1m>$1.5m   3.5% of total sales   4.2%% of total sales

 

Data Source: REINZ. Private sales data not included.

Disclaimer:

While every effort has been made to ensure the information contained herewith is true, no responsibility will be taken for errors or omissions. You should seek your own independent advice from your legal, taxation and financial consultant prior to purchase.

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