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

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

Property Type Jan – July 2018 Jan – July 2017 Variance +/-
Residential Dwellings (RD) 251 sales  226 sales  +11.0%
RD Median Sell Price $1,175,000 $992,500 +18.3%
Apartments (A) 68 sales 42 sales +61.9%
A Median Sell Price $514,250 $587,500 -12.4%
Units (U) 60 sales  50 sales  +20.0%
U Median Sell Price $710,000 $687,500   +3.2%
Townhouses (TH) 31 sales 25 sales +24.0%
TH Median Sell Price $895,652 $875,000   +2.3%
Residential Sections (RS) 97 sales  101 sales    -3.9%
RS Median Sell Price $580,000 $495,652 +17.0%
Rural Dwellings (RD) 11 sales 18 sales -38.8%
RD Median Sell Price $2.0m $2,625,000 -23.8%
Rural Blocks (RB) 25 sales 24 sales   +4.1%
RB Median Sell Price $1,325,000 $1,290,000   +2.7%
Total Sales Numbers 543 sales  486 sales  +11.7%
Value of Sales $ $599,467,055 $551,228,459   +8.7%

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

  • 2018 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $918,500. Sales above $1.0m represented 42.4% of all sales.
  • 2017 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $890.000. Sales above $1.0m represented 37.3% of all sales.

 REINZ Reported sales by price of Queenstown Residential Homes

January – July 2018 comparing same period Year-to-date 2017

Price Band % of Total Sales 2018 % of Total Sales 2017
  $351,000 – $450,000   0.4%  2.2%
  $451,000 – $650,000   2.4%  3.5%
  $651,000 – $999,000 35.8% 44.7%
  $1.0m – $1.999m 46.2% 36.8%
  $2.0m plus 15.2% 12.8%

 REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

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

Price Band % of Total Sales 2018 % of Total Sales 2017
<$350,000   3.6%   2.9%
  $351,000 – $450,000   3.9%   3.4%
  $451,000 – $650,000 12.2% 10.8%
  $651,000 – $999,000 37.9% 45.5%
  $1.0m –      $1.999m 32.7% 28.9%
  $2.0m plus   9.7%   8.5%

 REINZ Reported sales by price of Residential Sections.

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

Price Band % of Total Sales 2018 % of Total Sales 2017
<$199,000   1.0%  0.9%
  $200,000 – $299,000   5.0%  8.9%
  $300,000 – $499,000 31.0% 38.7%
  $500,000 – $749,000 41.2% 15.8%
  $750,000 – $999,000   7.3% 19.8%
  $1.0m – $2.0m 14.5% 15.9%

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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