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


Apartment-2 @ 35 Belfast Terrace, Queenstown

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 – September 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-Sept 2017 Jan- Sept 2016 Variance +/-
Residential Dwellings (RD) 284 sales  404 sales  -29.7%
RD Median Sell Price $1,040,000 $921,000 +12.9%
Apartments (A) 54 sales 81 sales  -33.3%
A Median Sell Price $587,500  $500,000 +17.5%
Units (U) 63 sales  83 sales  -24.1%
U Median Sell Price $695,000 $600,000 +15.8%
Townhouses (TH) 31 sales 44 sales  -29.5%
TH Median Sell Price $900,000  $650,000 +38.4%
Residential Sections (RS) 205 sales  321 sales  -36.1%
RS Median Sell Price $360,000  $330,000   +9.0%
Rural (R) 50 sales 64 sales  -21.9%
R Median Sell Price $1,900,000 $1,225,000 +55.1%
Total Sales Numbers 687 sales  995 sales  -31.0%
Value of Sales $ $740,878,351 $852,521,575 -13.1%

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

  • 2017 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $899,000. Sales above $1.0m represented 39.5% of all sales.
  • 2016 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $835,000. Sales above $1.0m represented 31.3% of all sales.

REINZ Reported sales by price of Queenstown Residential Homes

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

Price Band % of Total Sales 2017 % of Total Sales 2016
<$350,000 n/a   0.2%
  $351,000 – $450,000   1.7%   2.2%
  $451,000 – $650,000   3.8%   5.4%
  $651,000 – $999,000 43.0% 49.8%
  $1.0m – $1.999m 36.6% 34.7%
  $2.0m plus 15.1%    7.7%

 REINZ Reported sales by price covering all property types —(Homes, Units, Apartments and Townhouses).

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

Price Band % of Total Sales 2017 % of Total Sales 2016
<$350,000   3.0%   5.2%
  $351,000 – $450,000   3.4%   4.4%
  $451,000 – $650,000 11.0% 17.1%
  $651,000 – $999,000 43.2% 42.0%
  $1.0m –      $1.999m 29.3% 25.9%
  $2.0m plus 10.1%   5.4%

 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  0.4%   0.6%
  $200,000 – $299,000 38.5% 42.0%
  $300,000 – $499,000 27.8% 34.6%
  $500,000 – $749,000 10.7% 10.0%
  $750,000 – $999,000 12.1%    6.8%
  $1.0m – $2.0m 10.4%    6.0%

 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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