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


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 – July 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-July 2017 Jan- July 2016 Variance +/-
Residential Dwellings (RD) 226 sales  325 sales  -30.4%
RD Median Sell Price $992,500 $920,000   +7.8%
Apartments (A) 42 sales 61 sales  -31.1%
A Median Sell Price $587,500  $550,000   +6.8%
Units (U) 50 sales  61 sales  -18.0%
U Median Sell Price $687,500 $595,000 +15.5%
Townhouses (TH) 25 sales 22 sales  +13.6%
TH Median Sell Price $875,000  $654,500 +33.6%
Residential Sections (RS) 101 sales  180 sales  -43.8%
RS Median Sell Price $495,652  $391,500 +26.6%
Rural (R) 42 sales 52 sales  -19.2%
R Median Sell Price $1,900,000 $1,225,000 +55.1%
Total Sales Numbers 486 sales  701 sales  -30.6%
Value of Sales $ $551,228,459 $622,998,894 -11.5%

January – July2017 comparing same period Year-to-date 2016:

  • 2017 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $890,000. Sales above $1.0m represented 37.3% of all sales.
  • 2016 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $837,500. Sales above $1.0m represented 32% of all sales.

REINZ Reported sales by price of Queenstown Residential Homes

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

Price Band % of Total Sales 2017 % of Total Sales 2016
<$350,000    n/a   0.6%
  $351,000 – $450,000  2.2%   1.5%
  $451,000 – $650,000  3.5%   5.8%
  $651,000 – $999,000 44.7% 49.8%
  $1.0m – $1.999m 36.8% 35.5%
  $2.0m plus 12.8%   6.8%

 REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

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

Price Band % of Total Sales 2017 % of Total Sales 2016
<$350,000   2.9%   4.4%
  $351,000 – $450,000   3.4%    3.6%
  $451,000 – $650,000 10.8% 16.4%
  $651,000 – $999,000 45.5% 43.3%
  $1.0m –      $1.999m 28.9% 27.0%
  $2.0m plus   8.5%    5.3%

 REINZ Reported sales by price of Residential Sections.

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

Price Band % of Total Sales 2017 % of Total Sales 2016
<$199,000  0.9%   2.7%
  $200,000 – $299,000  8.9% 14.6%
  $300,000 – $499,000 38.7% 53.4%
  $500,000 – $749,000 15.8% 15.o%
  $750,000 – $999,000 19.8%   8.8%
  $1.0m – $2.0m 15.9%   5.5%

 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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