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Queenstown Lakes / Central Otago Property Pulse factsheet – October 2011

Posted on: November 28th, 2011 | Filed in Queenstown Lakes Property Market Factsheet

The Queenstown Lakes district region property pulse factsheet for October 2011 is published using data from Realestate.co.nz and REINZ (Real Estate Institute of NZ).

Property sales across the Queenstown Lake and Central Otago region at 68 in the month fell significantly on a seasonally adjusted basis in October and were up just 8% as compared to a year ago. The inventory of unsold houses on the market at 101 weeks rose slightly but still remains in line with the long-term average of 100 weeks of equivalent sales.

Median sales price of properties sold in the Queenstown Lakes and Central Otago region at $420,000 was up 9% as compared to a year ago, and up significantly on the prior month. The asking price expectation of new listings fell by 14% as compared to a year ago at $498,436.

The level of new listings coming onto the market in October at 329 fell as compared to prior month and was up just 6% as compared to a year ago.

 

 

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