Queenstown property sales surge ahead in April.


“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.

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