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.
Steve Lindsay 