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

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

Property Type Jan – August 2018 Jan – August 2017 Variance +/-
Residential Dwellings (RD) 275 sales  261 sales    +5.3%
RD Median Sell Price $1,150,000 $1.0m +15.0%
Apartments (A) 79 sales 46 sales +71.7%
A Median Sell Price $529,000 $579,500   -8.7%
Units (U) 77 sales  57 sales  +35.0%
U Median Sell Price $710,000 $695,000  + 2.1%
Townhouses (TH) 33 sales 29 sales +13.7%
TH Median Sell Price $895,652 $900,000   -0.4%
Residential Sections (RS) 109 sales  119 sales    -8.4%
RS Median Sell Price $580,000 $495,652 +17.0%
Rural Dwellings (RD) 11 sales 20 sales -45.0%
RD Median Sell Price $2.0M $2,625,000 -23.8%
Rural Blocks (RB) 25 sales  26 sales    -3.8%
RB Median Sell Price $1,325,000 $1,312,500   -0.9%
Total Sales Numbers 609 sales  558 sales    +9.1%
Value of Sales $ $681,273,466 $634,287,987   +7.4%

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

  • 2018 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $922,500. Sales above $1.0m represented 42.6% of all sales.
  • 2017 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $895,000. Sales above $1.0m represented 38.6% of all sales.

 REINZ Reported sales by price of Queenstown Residential Homes

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

Price Band % of Total Sales 2018 % of Total Sales 2017
  $351,000 – $450,000    0.3% 1.9%
  $451,000 – $650,000    2.5% 3.8%
  $651,000 – $999,000  36.0% 44.0%
  $1.0m – $1.999m  46.5% 36.0%
  $2.0m plus  14.7% 14.3%

 REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

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

Price Band % of Total Sales 2018 % of Total Sales 2017
<$350,000     3.6%   3.3%
  $351,000 – $450,000     3.4%   3.0%
  $451,000 – $650,000  12.0% 11.0%
  $651,000 – $999,000  38.2% 44.0%
  $1.0m –      $1.999m  33.5% 29.3%
  $2.0m plus     9.3%   9.4%

 REINZ Reported sales by price of Residential Sections.

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

Price Band % of Total Sales 2018 % of Total Sales 2017
<$199,000    0.9%   0.8%
  $200,000 – $299,000    4.5% 12.6%
  $300,000 – $499,000  31.1 % 37.0%
  $500,000 – $749,000   39.6% 15.1%
  $750,000 – $999,000     7.4% 19.3%
  $1.0m – $2.0m   16.5% 15.2%

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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