EXECUTIVE SUMMARY: QUEENSTOWN’S REAL ESTATE SALES- Calendar Year to Feb 2018.


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: Calendar Year to date- January & February 2018 comparing 2017

□ REINZ reported sales. Private / Developer direct sales not included.

Property Type Jan & Feb 2018 Jan & Feb 2017 Variance +/-
Residential Dwellings (RD) 75 sales  54 sales  +38.8%
RD Median Sell Price $1,185,000 $885,000 +33.9%
Apartments (A) 13 sales 8 sales +62.5%
A Median Sell Price $660,000 $382,000 +72.7%
Units (U) 18 sales  17 sales  +5.8%
U Median Sell Price $711,750 $635,000 +12.0%
Townhouses (TH) 4 sales 11 sales -63.6%
TH Median Sell Price $895,000 $850,000 +5.2%
Residential Sections (RS) 41 sales  17 sales  +141.1%
RS Median Sell Price $605,000 $525,000 +15.2%
Rural (R) 9 sales 11 sales -18.1%
R Median Sell Price $2,141,250 $1,625,000 +31.7%
Total Sales Numbers 160 sales  118 sales  +35.5%
Value of Sales $ $186,719,705 $123,126,017 +51.6%

January & February 2017 comparing same period Year-to-date 2016:

  • 2018 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $985,000. Sales above $1.0m represented 47.7% of all sales.
  • 2017 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $805,000. Sales above $1.0m represented 28% of all sales.

 REINZ Reported sales by price of Queenstown Residential Homes

January & February 2018 comparing January & February 2017

Price Band % of Total Sales 2018 % of Total Sales 2017
Ø              $450,000 n/a  3.7%
  $451,000 – $650,000  2.6%  1.8%
  $651,000 – $999,000 37.5% 53.7%
  $1.0m – $1.999m 46.6% 31.4%
  $2.0m plus 13.3%  9.4%

REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

January & February 2018 comparing January & February 2017

Price Band % of Total Sales 2018 % of Total Sales 2017
  >                  $450,000 1.0%  8.8%
  $451,000 – $650,000 13.6% 12.2%
   $651,000 – $999,000 38.1% 50.0%
  $1.0m –      $1.999m 37.3% 23.5%
  $2.0m plus 10.0%  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.

Land For Sale

 

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