EXECUTIVE SUMMARY: QUEENSTOWN’S REAL ESTATE SALES- Calendar Year to October 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 – October 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-Oct 2017 Jan- Oct 2016 Variance +/-
Residential Dwellings (RD) 316 sales  444 sales  -28.8%
RD Median Sell Price $1,050,000 $935,000 +12.3%
Apartments (A) 57 sales 91 sales -37.3%
A Median Sell Price $590,000 $525,000 +12.3%
Units (U) 67 sales  98 sales  -31.6%
U Median Sell Price $680,000 $609,000 +11.6%
Townhouses (TH) 33 sales 47 sales -29.7%
TH Median Sell Price $900,000 $650,000 +38.4%
Residential Sections (RS) 242 sales  334 sales  -27.5%
RS Median Sell Price $342,500 $330,125   +3.7%
Rural (R) 53 sales 70 sales -24.2%
R Median Sell Price $1,950,000 $1,275,000 +52.9%
Total Sales Numbers 768 sales  1084 sales  -29.1%
Value of Sales $ $830,466,850 $944,773,875 -12.1%

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

  • 2017 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $900,000. Sales above $1.0m represented 40.3% of all sales.
  • 2016 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $839,500. Sales above $1.0m represented 32.3% of all sales.

REINZ Reported sales by price of Queenstown Residential Homes

January- October 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   1.5%   2.0%
  $451,000 – $650,000   3.6%   5.1%
  $651,000 – $999,000 43.0% 48.8%
  $1.0m – $1.999m 36.0% 35.5%
  $2.0m plus 15.9%   8.4%

 REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

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

Price Band % of Total Sales 2017 % of Total Sales 2016
<$350,000   2.7%   5.1%
  $351,000 – $450,000   3.0%   4.1%
  $451,000 – $650,000 10.4% 16.7%
  $651,000 – $999,000 43.5% 41.8%
  $1.0m –      $1.999m 29.5% 26.5%
  $2.0m plus 10.9%   5.8%

 REINZ Reported sales by price of Residential Sections.

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

Price Band % of Total Sales 2017 % of Total Sales 2016
<$199,000   4.9%    1.5%
  $200,000 – $299,000 36.7% 40.8%
  $300,000 – $499,000 26.4% 33.9%
  $500,000 – $749,000 11.2% 10.8 %
  $750,000 – $999,000 10.4%    7.0%
  $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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