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

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

Property Type Jan – Oct 2018 Jan – Oct 2017 Variance +/-
Residential Dwellings (RD) 341 sales  316 sales      +7.9%
RD Median Sell Price $1,175,000 $1,050,000   +11.9%
Apartments (A) 93 sales 57 sales  +63.1%
A Median Sell Price $535,000 $590,000    -9.3 %
Units (U) 88 sales  67 sales    +31.3%
U Median Sell Price $710,000 $680,000    +4.4 %
Townhouses (TH) 36 sales 33 sales     +9.0%
TH Median Sell Price $885,326 $900,000     -1.6%
Residential Sections (RS) 139 sales  242 sales   -42.5 %
RS Median Sell Price $600,000 $342,500   +75.1%
Rural Dwellings (RD) 14 sales 22 sales  -36.3 %
RD Median Sell Price $2,167,625 $2,625,000   -17.4%
Rural Blocks (RB) 40 sales  31 sales   +29.0%
RB Median Sell Price $1,592,500 $1,500,000     +6.1%
Total Sales Numbers 751 sales  768 sales      -2.2%
Value of Sales $ $885,647,178 $830,466,850     +6.4%

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

  • 2018 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $936,500. Sales above $1.0m represented 44.4% of all sales.
  • 2017 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $900,000. Sales above $1.0m represented 40.3% of all sales.

 REINZ Reported sales by price of Queenstown Residential Homes

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

Price Band % of Total Sales 2018 % of Total Sales 2017
  $351,000 – $450,000   0.2%   1.5%
  $451,000 – $650,000   2.6%   3.6%
  $651,000 – $999,000 34.4% 43.0%
  $1.0m – $1.999m 46.9% 36.0%
  $2.0m plus 15.9% 15.9%

 

 REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

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

Price Band % of Total Sales 2018 % of Total Sales 2017
<$350,000   3.2%  2.7%
  $351,000 – $450,000   3.2%  3.0%
  $451,000 – $650,000 12.6% 10.4%
  $651,000 – $999,000 36.7% 43.5%
  $1.0m –      $1.999m 34.0% 29.5%
  $2.0m plus 10.3% 10.9%

 REINZ Reported sales by price of Residential Sections.

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

Price Band % of Total Sales 2018 % of Total Sales 2017
<$199,000   0.7%   4.9%
  $200,000 – $299,000   3.6% 36.7%
  $300,000 – $499,000 31.6% 26.4%
  $500,000 – $749,000 36.8% 11.2%
  $750,000 – $999,000   7.2% 10.4%
  $1.0m – $2.0m 20.1% 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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