“People love chopping wood. In this activity one immediately sees results.” – Albert Einstein.
You could argue the same applies in real estate, as when buyer enquiry surges, more properties get sold and the results are there in black in white for everyone to see. Realtors love selling property!
The latest sales data reported for April cast a much brighter light on the Queenstown property market. In fact overall, April’s total of 78 residential and rural sales have not been matched for some two-years when 77-sales were reported April 2009.
Local media commentators recently reported on the number of one-million dollar plus sales that are now consistently being achieved in the Queenstown area. April, with 14-sales + $1.0m, more than doubled the trending monthly average (5-6 sales).
Two highlights included a Dalefield lifestyle residence selling at $6.0m along with a lifestyle parcel of landholdings on-selling for $11.880m.
QUEENSTOWN AREA PROPERTY SALES – April 2011
Note: Data represents sales reported by REINZ agencies. Private sales not included.
| Type | April 2011 | |
| Number of Sales | Residential Dwellings | 38 |
| Apartments | 6 | |
| Units | 10 | |
| Townhouses | 3 | |
| Sections / Vacant | 15 | |
| Rural Lifestyle Block | 6 | |
| Total | 78 | |
| Value of Sales ($) | Dwellings (Excluding Apartments) | $38,454,900 |
| Apartments | $ 3,295,000 | |
| Sections / Vacant | $ 3,856,500 | |
| Rural Lifestyle Block | $18,185,000 | |
| Total | $63,791,400 | |
| Median Sell Price | Dwellings all types | $ 520,000 |
| Apartments | $ 505,000 | |
| Residential dwellings | $ 582,500 | |
| Units | $ 456,000 | |
| Townhouse | $ 450,000 | |
| Sections / Vacant | $ 207,500 | |
| Rural Lifestyle Block | $1,410,000 | |
| Median Days to Sell | Dwellings all types
(Includes Apartments) |
46-days. |
| Residential Sections / Vacant | 42-days. |
Queenstown Area Sales by Property Type Year-To-Date 2011 comparing 2010
□ Report compares aggregated sales January through April inclusive 2011 v 2010
| Property Type | 2011 | 2010 | Variance +/- |
| Residential Dwellings (RD) | 100 sales | 94 sales | +6.3% |
| RD Median Sell Price | $577,500 | $550,000 | +5.0% |
| Apartments (A) | 18 sales | 18 sales | No change |
| A Median Sell Price | $517,500 | $422,000 | +22.6% |
| Units (U) | 37 sales | 39 sales | -5.2% |
| U Median Sell Price | $365,000 | $365,000 | No change |
| Townhouses (TH) | 7 sales | 7 sales | No change |
| TH Median Sell Price | $458,000 | $450,000 | +1.8 % |
| Residential Sections (RS) | 49sales | 42 sales | +16.6% |
| RS Median Sell Price | $222,000 | $271,000 | -18.1% |
| Rural (R) | 8 sales | 8 sales | No change |
| R Median Sell Price | $1,410,000 | $1,075,000 | +31.2% |
| Total properties Sales | 219 sales | 208 sales | +5.3% |
| Total Value ($) of sales | $146,885,089 | $115,855,198 | +26.7% |
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.
Steve Lindsay 