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

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

Property Type Jan – May 2018 Jan – May 2017 Variance +/-
Residential Dwellings (RD) 182 sales  171 sales    +6.4%
RD Median Sell Price $1,192,500 $1.0m +19.2%
Apartments (A) 55 sales 33 sales +66.6%
A Median Sell Price $521,099 $585,000 -10.9%
Units (U) 48 sales  43 sales  +11.6%
U Median Sell Price $710,000 $700,000   +1.4%
Townhouses (TH) 29 sales 19 sales +52.6%
TH Median Sell Price $895,652 $875,000   +2.3%
Residential Sections (RS) 73 sales  72 sales    +1.3%
RS Median Sell Price $600,000 $512,500 +17.0%
Rural (R) 25 sales 36 sales -30.5%
R Median Sell Price $1,700,000 $1,900,000 -10.5%
Total Sales Numbers 412 sales  374 sales  +10.1%
Value of Sales $ $443,692,283 $433,062,749   +2.4%

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

  • 2018 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $905,000. Sales above $1.0m represented 40.7% of all sales.
  • 2017 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $879,000 Sales above $1.0m represented 36.8% of all sales.

 REINZ Reported sales by price of Queenstown Residential Homes

January – May 2018 comparing January – May 2018

Price Band % of Total Sales 2018 % of Total Sales 2017
  $351,000 – $450,000   0.5%   2.3%
  $451,000 – $650,000   3.2%   2.3%
  $651,000 – $999,000 34.6% 44.8%
  $1.0m – $1.999m 47.8% 37.8%
  $2.0m plus 13.9% 13.0%

 REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

January- May 2018 comparing January – May 2017

Price Band % of Total Sales 2018 % of Total Sales 2017
<$350,000   2.5%    3.0%
  $351,000 – $450,000   4.4%   2.6%
  $451,000 – $650,000 14.7% 11.0%
  $651,000 – $999,000 37.4% 46.7%
  $1.0m –      $1.999m 32.6% 28.5%
  $2.0m plus   8.4%   8.2%

 REINZ Reported sales by price of Residential Sections.

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

Price Band % of Total Sales 2018 % of Total Sales 2017
<$199,000   1.3% 1.3%
  $200,000 – $299,000   4.2% 12.5%
  $300,000 – $499,000 26.0% 34.7%
  $500,000 – $749,000 48.0% 11.2%
  $750,000 – $999,000   6.8% 22.3%
  $1.0m – $2.0m 13.7% 18.0%

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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