EXECUTIVE SUMMARY: QUEENSTOWN’S REAL ESTATE SALES- Calendar Year to August 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 – August 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-August 2017 Jan- August 2016 Variance +/-
Residential Dwellings (RD) 261 sales  366 sales  -28.6%
RD Median Sell Price $1.0m $920,000   +8.7%
Apartments (A) 46 sales 67 sales -31,3%
A Median Sell Price $579,500  $525,000 +10.3%
Units (U) 57 sales  74 sales  -22.9%
U Median Sell Price $695,000 $592,500 +17.3%
Townhouses (TH) 29 sales 37 sales -21.6%
TH Median Sell Price $900,000  $650,000 +38.4%
Residential Sections (RS) 119 sales  304 sales  -60.8%
RS Median Sell Price $495,652  $322,500 +53.6%
Rural (R) 46 sales 62 sales -25.8%
R Median Sell Price $1825,000 $1,175,000 +55.3%
Total Sales Numbers 558 sales  910 sales  -38.6%
Value of Sales $ $634,287,987 $763,289,062 -16.9%

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

  • 2017 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $895,000. Sales above $1.0m represented 38.6% of all sales.
  • 2016 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $835,000. Sales above $1.0m represented 31.4% of all sales.

REINZ Reported sales by price of Queenstown Residential Homes

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

Price Band % of Total Sales 2017 % of Total Sales 2016
<$350,000 nil     0.2%
  $351,000 – $450,000 1.9%     2.1%
  $451,000 – $650,000 3.8%     5.9%
  $651,000 – $999,000 44.0%   50.0%
  $1.0m – $1.999m 36.0%   34.9%
  $2.0m plus 14.3%     6.9%

 REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

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

Price Band % of Total Sales 2017 % of Total Sales 2016
<$350,000   3.3%    4.2%
  $351,000 – $450,000   3.0%    4.5%
  $451,000 – $650,000 11.0%  18.0%
  $651,000 – $999,000 44.0%  41.9%
  $1.0m –      $1.999m 29.3%  26.5 %
  $2.0m plus   9.4%    4.9%

 REINZ Reported sales by price of Residential Sections.

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

Price Band % of Total Sales 2017 % of Total Sales 2016
<$199,000   0.8%     1.6%
  $200,000 – $299,000 12.6%   42.9%
  $300,000 – $499,000 37.0%   34.2%
  $500,000 – $749,000 15.1%     9.8%
  $750,000 – $999,000 19.3%     6.5%
  $1.0m – $2.0m 15.2%     5.0%

 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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