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.
Steve Lindsay 