EXECUTIVE SUMMARY: QUEENSTOWN’S REAL ESTATE SALES- Calendar Year to June 2017


Section for sale

Informative updates are fundamental to be first to know when the time is right to make your move whether it be buying or selling. Adhering to REINZ policy I am not at liberty to comment on the market data so I’ll just let my ‘desktop analyses’ of the sales numbers do the talking.

Queenstown Area Sales by Property Type

Report Period: January – June 2017 comparing 2016

□ Report compares aggregated sales for the calendar year 2017 v 2016

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

Property Type Jan-June 2017 Jan- June 2016 Variance +/-
Residential Dwellings (RD)  196 sales  294 sales  -33.3%
RD Median Sell Price $992,500 $910,000 +9.0%
Apartments (A) 39 sales 53 sales  -26.4%
A Median Sell Price $590,000  $550,000 +7.2%
Units (U) 48 sales  52 sales  -7.6%
U Median Sell Price $617,500 $565,000 +9.2%
Townhouses (TH) 22 sales 20 sales  +10.0%
TH Median Sell Price $837,500 $650,500 +28.7%
Residential Sections (RS) 81 sales  157 sales  -48.4%
RS Median Sell Price $525,000  $390,000 +34.6%
Rural (R) 39 sales 48 sales  -18.7%
R Median Sell Price $1,850,000 $1,175,000 +57.4%
Total Sales Numbers 426 sales  624 sales  -31.7%
Value of Sales $ $489,852,759 $549,971,921 10.9%

January – May 2017 comparing same period Year-to-date 2016:

  • 2017 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $880,000. Sales above $1.0m represented 36.3% of all sales.
  • 2016 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $830,000. Sales above $1.0m represented 30.0% of all sales.

REINZ Reported sales by price of Queenstown Residential Homes

January- June 2017 comparing same period Year-to-date 2016

Price Band % of Total Sales 2017 % of Total Sales 2016
<$350,000 n/a   0.3 %
  $351,000 – $450,000    2.0%   2.0%
  $451,000 – $650,000    2.0%   6.1%
  $651,000 – $999,000 46.4% 50.6%
  $1.0m – $1.999m 36.7% 34.5%
  $2.0m plus 12.9%   6.5%

 REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

January- June 2017 comparing same period Year-to-date 2016

Price Band % of Total Sales 2017 % of Total Sales 2016
<$350,000   2.9%   5.0%
  $351,000 – $450,000   3.4%   3.3%
  $451,000 – $650,000 10.5% 16.9%
  $651,000 – $999,000 46.9% 43.7%
  $1.0m –      $1.999m 28.2% 26.4%
  $2.0m plus   8.1%   4.7%

 REINZ Reported sales by price of Residential Sections.

January- June 2017 comparing same period Year-to-date 2016

Price Band % of Total Sales 2017 % of Total Sales 2016
<$199,000   1.2% 28.3%
  $200,000 – $299,000 11.1% 34.6%
  $300,000 – $499,000 34.5% 21.8%
  $500,000 – $749,000 12.4%   2.5%
  $750,000 – $999,000 21.0%   8.9%
  $1.0m – $2.0m 19.8%   3.9%

 Data Source: REINZ. Private & Developer direct 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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