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

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

Property Type Jan – April 2018 Jan – April 2017 Variance +/-
Residential Dwellings (RD) 141 sales  129 sales    +9.3%
RD Median Sell Price $1,175,000 $1.0m +17.5%
Apartments (A) 33 sales 24 sales +37.5%
A Median Sell Price $590,000 $575,000   +2.6%
Units (U) 30 sales  37 sales  -18.9%
U Median Sell Price $711,250 $695,000   +2.3%
Townhouses (TH) 21 sales 16 sales +31.2%
TH Median Sell Price $950,000 $862,500 +10.1%
Residential Sections (RS) 62 sales  39 sales  +58.9%
RS Median Sell Price $600,000 $610,000   -1.6%
Rural (R) 21 sales 29 sales -27.5%
R Median Sell Price $1,600,000 $1,950,000 -17.9%
Total Sales Numbers 308 sales  274 sales  +12.4%
Value of Sales $ $341,839,755 $324,088,113   +5.4%

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

  • 2018 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $950,000. Sales above $1.0m represented 44.4% of all sales.
  • 2017 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $862,500 Sales above $1.0m represented 36.4% of all sales.

REINZ Reported sales by price of Queenstown Residential Homes

January – April 2018 comparing January – April 2017

Price Band % of Total Sales 2018 % of Total Sales 2017
Ø              $450,000  0.10%   3.1%
  $451,000 – $650,000   2.8%   3.1%
  $651,000 – $999,000 36.8% 43.7%
  $1.0m – $1.999m 47.5% 38.3%
  $2.0m plus 12.8% 11.8%

 REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

January- April 2018 comparing January – April 2017

Price Band % of Total Sales 2018 % of Total Sales 2017
  >                  $450,000   3.5%   6.3%
  $451,000 – $650,000 13.4% 11.2%
   $651,000 – $999,000 38.6% 46.4%
  $1.0m –      $1.999m 36.0% 28.8%
  $2.0m plus   8.5%   7.3%

 REINZ Reported sales by price of Residential Sections.

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

Price Band % of Total Sales 2018 % of Total Sales 2017
<$199,000   1.6% n/a
  $200,000 – $299,000   4.8%   5.1%
  $300,000 – $499,000 17.8% 38.5%
  $500,000 – $749,000 53.2%   7.8%
  $750,000 – $999,000   8.0% 25.6%
  $1.0m – $2.0m 14.6% 23.0%

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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