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

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

Property Type Jan – Nov 2018 Jan – Nov 2017 Variance +/-
Residential Dwellings (RD) 382 sales  348 sales    +9.7%
RD Median Sell Price $1,175,000 $1,050,000 +11.9%
Apartments (A) 100 sales 70 sales +42.8%
A Median Sell Price $595,000 $605,500   -1.7%
Units (U) 99 sales  70 sales  +41.3%
U Median Sell Price $710,000 $677,500   +4.8%
Townhouses (TH) 44 sales 35 sales +25.7%
TH Median Sell Price $950,000 $880,000   +7.9%
Residential Sections (RS) 159 sales  247 sales  -35.6%
RS Median Sell Price $599,000 $345,000 +73.6%
Rural Dwellings (RD) 17 sales 23 sales -26.0%
RD Median Sell Price $2,189,500 $2,920,000 -25.0%
Rural Blocks (RB) 41 sales  34 sales +20.5%
RB Median Sell Price $1,550,000 $1,327,500 +16.7%
Total Sales Numbers 842 sales  828 sales    +1.6%
Value of Sales $ $985,374,178 $899,791,182   +9.5%

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

  • 2018 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $950,000. Sales above $1.0m represented 44.1% of all sales.
  • 2017 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $900,000. Sales above $1.0m represented 40.7% of all sales.

 REINZ Reported sales by price of Queenstown Residential Homes

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

Price Band % of Total Sales 2018 % of Total Sales 2017
  $351,000 – $450,000   0.2%       1.4%
  $451,000 – $650,000   2.6%       3.4%
  $651,000 – $999,000 34.9%    42.5%
  $1.0m – $1.999m 47.2%    36.8%
  $2.0m plus 15.1%     15.9%

 

REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

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

Price Band % of Total Sales 2018 % of Total Sales 2017
<$350,000   2.8%   2.6%
  $351,000 – $450,000   2.8%   3.0%
  $451,000 – $650,000 11.6% 10.1%
  $651,000 – $999,000 38.6% 43.6%
  $1.0m –      $1.999m 34.2% 29.8%
  $2.0m plus 10.0% 10.9%

 

REINZ Reported sales by price of Residential Sections.

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

Price Band % of Total Sales 2018 % of Total Sales 2017
<$199,000   0.6%   5.6%
  $200,000 – $299,000   3.2% 36.0%
  $300,000 – $499,000 32.1% 26.0%
  $500,000 – $749,000 37.2% 11.2%
  $750,000 – $999,000 7.5% 10.6%
  $1.0m – $2.0m 19.4% 10.6%

 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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