Queenstown Area Property Sales- Market Overview Year-To-Date 2012.


Following is my desktop analysis of the latest REINZ reported property sales data for Queenstown’s real estate market year-to-date 2012.

Queenstown Area Sales by Property Type Year-to-date

Report Period: January- August 2012 comparing 2011

□ Report compares aggregated sales for the calendar year 2012 v 2011

□ REINZ reported sales. Private / Developer direct sales not included.

Property Type Jan-August 2012 Jan-August 2011 Variance +/-
Residential Dwellings (RD) 222 sales 183 sales +21.3%
RD Median Sell Price $612,500 $575,000   +6.5%
Apartments   (A) 73 sales 41 sales +78.0%
A Median Sell   Price $395,000 $510,000 -22.5%
Units (U) 63 sales 68 sales   -7.3%
U Median Sell Price $328,000 $393,500 -16.6%
Townhouses   (TH) 23 sales 16 sales +43.7%
TH Median   Sell Price $399,000 $441,500      -9.5%
Residential Sections (RS) 96 sales 96 sales No change
RS Median Sell Price $239,500 $259,500      -7.7%
Rural (R) 18 sales 15 sales +20.0%
R Median   Sell Price $922,500 $1,550,000 -40.4%
Total properties Sales 495 sales 419 sales +18.1%
Total Value ($) of sales $304,467,266 $267,684,743 +13.7%

REINZ Reported sales by price of Queenstown Homes, Units and Townhouses.

Year-to-date January- August 2012 comparing 2011.

Price   Band %   of Total Sales 2012 %   of Total Sales 2011
<$350,000 16.9% 15.7%
  $351,000 – $450,000 20.5% 19.2%
  $451,000 – $650,000 31.5% 37.4%
  $651,000 – $999,000 16.5% 15.4%
  $1.0m – $2.0m     9.8% 10.5%
  $2.0m plus     4.8%     1.8%

 

QUEENSTOWN AREA PROPERTY SALES: August 2012 v August 2011

Note: Data represents sales reported by REINZ agencies. Private sales not included.

Type August 2012 July 2012 August  2011
Number of sales Residential Dwellings 35 16 22
Apartments   4  9   6
Units 10  4 13
Townhouses   2  3   3
Sections / Vacant 18 11 10
Rural Lifestyle   1  2   3
TOTAL 70 45 57
Value of sales ($) Dwellings(Excludes Apartments) $25,567,000 $20,482,000 $20,379,395
Apartments $980,000 $2,959,000 $2,415,500
Sections / Vacant $4,980,000 $2,834,500 $3,948,000
Rural Lifestyle $1,100,000 $887,500 $5,630,000
TOTAL $32,627,000 $27,163,000 $32,372,895
Median Sell Price Dwellings all types $462,000 $563,750 $495,000
Apartments $249,000 $265,000 $442,500
Residential Dwellings $542,500 $737,500 $587,500
Units $388,250 $371,250 $415,000
Townhouses $442,000 $610,000 $604,000
Sections / Vacant $232,000 $228,000 $222,500
Rural Lifestyle $1,100,000 (1) $443,750 $1,550,000
Median days to Sell Dwellings all types(Includes apartments) 40-days 70-days 74-days
Residential Sections 90-days 178-days 149-days. 

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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