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 – December 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- Dec 2017 | Jan- Dec 2016 | Variance +/- |
| Residential Dwellings (RD) | 378 sales | 505 sales | -25.1% |
| RD Median Sell Price | $1,050,000 | $938,500 | +11.8% |
| Apartments (A) | 80 sales | 104 sales | -23.0% |
| A Median Sell Price | $629,500 | $530,500 | +18.6% |
| Units (U) | 76 sales | 110 sales | -30.9% |
| U Median Sell Price | $672,000 | $622,500 | +7.9% |
| Townhouses (TH) | 38 sales | 53 sales | -28.3% |
| TH Median Sell Price | $877,500 | $650,000 | +35.0% |
| Residential Sections (RS) | 265 sales | 353 sales | -24.9% |
| RS Median Sell Price | $374,000 | $343,333 | +8.9% |
| Rural (R) | 61 sales | 84 sales | -27.3% |
| R Median Sell Price | $1,950,000 | $1,362,500 | +43.1% |
| Total Sales Numbers | 898 sales | 1,209 sales | -25.7% |
| Value of Sales $ | $973,467,385 | $1,082,066,255 | -10.4 |
January – December 2017 comparing same period Year-to-date 2016:
- 2017 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $904,500. Sales above $1.0m represented 40.5% of all sales.
- 2016 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $840,000. Sales above $1.0m represented 33.2% of all sales.
REINZ Reported sales by price of Queenstown Residential Homes
January- December 2017 comparing same period Year-to-date 2016
| Price Band | % of Total Sales 2017 | % of Total Sales 2016 |
| <$350,000 | 0.1% | |
| $351,000 – $450,000 | 1.3% | 1.8% |
| $451,000 – $650,000 | 3.4% | 5.0% |
| $651,000 – $999,000 | 42.8% | 48.0% |
| $1.0m – $1.999m | 37.0% | 36.8% |
| $2.0m plus | 15.4% | 8.3% |
REINZ Reported sales by price covering all property types —
(Homes, Units, Apartments and Townhouses).
January- December 2017 comparing same period Year-to-date 2016
| Price Band | % of Total Sales 2017 | % of Total Sales 2016 |
| <$350,000 | 2.4% | 4.7% |
| $351,000 – $450,000 | 3.2% | 3.6% |
| $451,000 – $650,000 | 10.7% | 17.3% |
| $651,000 – $999,000 | 43.1% | 41.0% |
| $1.0m – $1.999m | 29.9% | 27.5% |
| $2.0m plus | 10.7% | 5.9% |
REINZ Reported sales by price of Residential Sections.
January- December 2017 comparing same period Year-to-date 2016
| Price Band | % of Total Sales 2017 | % of Total Sales 2016 |
| <$199,000 | 5.2% | 1.4% |
| $200,000 – $299,000 | 34.0% | 38.9% |
| $300,000 – $499,000 | 25.7% | 33.7% |
| $500,000 – $749,000 | 14.3% | 11.9% |
| $750,000 – $999,000 | 9.8% | 7.3% |
| $1.0m – $2.0m | 11.0% | 6.8% |
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.
Steve Lindsay 