EXECUTIVE SUMMARY: QUEENSTOWN’S REAL ESTATE SALES- Calendar Year to March 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 – March 2018 comparing 2017

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

Property Type Jan – March 2018 Jan – March 2017 Variance +/-
Residential Dwellings (RD) 105 sales  96 sales   +9.3%
RD Median Sell Price $1,175,000 $959,500 +22.4%
Apartments (A) 26 sales 17 sales +52.9%
A Median Sell Price $625,000 $570,000  +9.6%
Units (U) 24 sales  25 sales   -4.0%
U Median Sell Price $711,250 $665,000  +6.9%
Townhouses (TH) 7 sales 16 sales -56.2%
TH Median Sell Price $1.0m $860,000 +16.2%
Residential Sections (RS) 54 sales  32 sales  +68.7%
RS Median Sell Price $600,000 $510,326 +17.5%
Rural (R) 13 sales 23 sales -43.4%
R Median Sell Price $1,825,000 $1,950,000  -6.4%
Total Sales Numbers 229 sales  209 sales   +9.5%
Value of Sales $ $250,590,755 $239,779,913  +4.5%

January – March 2018 comparing same period Year-to-date 2017:

  • 2018 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $914,000. Sales above $1.0m represented 43.8% of all sales.
  • 2017 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $850,000  Sales above $1.0m represented 34.4% of all sales.

 REINZ Reported sales by price of Queenstown Residential Homes

January – March 2018 comparing January – March 2017

Price Band % of Total Sales 2018 % of Total Sales 2017
Ø              $450,000   0.9%   3.1%
  $451,000 – $650,000   3.8%   4.1%
  $651,000 – $999,000 36.1% 45.9%
  $1.0m – $1.999m 47.6% 36.5%
  $2.0m plus 11.6% 10.4%

 REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

January- March 2018 comparing January – March 2017

Price Band % of Total Sales 2018 % of Total Sales 2017
  >                  $450,000   2.4%   6.5%
  $451,000 – $650,000 16.0% 11.6%
   $651,000 – $999,000 37.1% 47.4%
  $1.0m –      $1.999m 36.5% 28.0%
  $2.0m plus   8.0%   6.5%

 REINZ Reported sales by price of Residential Sections.

January- March 2018 comparing same period Year-to-date 2017

Price Band % of Total Sales 2018 % of Total Sales 2017
<$199,000   1.8% n/a
  $200,000 – $299,000   5.5%   6.2%
  $300,000 – $499,000 18.5% 43.7%
  $500,000 – $749,000 53.8%   9.4%
  $750,000 – $999,000   5.6% 25.0%
  $1.0m – $2.0m 14.8% 15.7%

 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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