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

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

Property Type Jan – Sept 2018 Jan – Sept 2017 Variance +/-
Residential Dwellings (RD) 292 sales  284 sales    +2.8%
RD Median Sell Price $1,162,500 $1,040,000 +11.7%
Apartments (A)  84 sales 54 sales +55.5%
A Median Sell Price $529,500 $587,500   -9.8%
Units (U) 82 sales  63 sales  +30.1%
U Median Sell Price $710,000 $695,000   +2.1%
Townhouses (TH) 34 sales 31 sales   +9.6%
TH Median Sell Price $885,326 $900,000   -1.6%
Residential Sections (RS) 121 sales  205 sales  -40.9%
RS Median Sell Price $575,000 $360,000 +59.7%
Rural Dwellings (RD) 12 sales 21 sales -42.8%
RD Median Sell Price $2,070,625 $2,550,000 -18.8%
Rural Blocks (RB) 28 sales  29 sales   -3.4%
RB Median Sell Price $1,325,000 $1,350,000   -1.8%
Total Sales Numbers 653 sales  687 sales     -4.9%
Value of Sales $ $739,678,750 $740,878,351   – 0.1%

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

  • 2018 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $931,500. Sales above $1.0m represented 43.2% of all sales.
  • 2017 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $899,000. Sales above $1.0m represented 39.5% of all sales.

 REINZ Reported sales by price of Queenstown Residential Homes

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

Price Band % of Total Sales 2018 % of Total Sales 2017
  $351,000 – $450,000     n/a   1.7%
  $451,000 – $650,000   2.7%   3.8%
  $651,000 – $999,000 35.2% 43.0%
  $1.0m – $1.999m 47.2% 36.6%
  $2.0m plus 14.7% 15.1%

 

REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

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

Price Band % of Total Sales 2018 % of Total Sales 2017
<$350,000   3.4%   3.0%
  $351,000 – $450,000   3.4%   3.4%
  $451,000 – $650,000 12.0% 11.0%
  $651,000 – $999,000 37.9% 43.2%
  $1.0m –      $1.999m 34.0% 29.3%
  $2.0m plus   9.3% 10.1%

 

REINZ Reported sales by price of Residential Sections.

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

Price Band % of Total Sales 2018 % of Total Sales 2017
<$199,000   0.8%   0.4%
  $200,000 – $299,000  4.1% 38.5%
  $300,000 – $499,000 32.2% 27.8%
  $500,000 – $749,000 38.8% 10.7%
  $750,000 – $999,000   6.6% 12.1%
  $1.0m – $2.0m 17.5% 10.4%

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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