House sales up on last year

A total of 51 residential houses were sold in the Queenstown and Arrowtown area during October, up from 45 in the same month last year, according to the latest real estate figures.

The October five and 10-year averages for the number of sales are 41 and 49 respectively.

It took an average of 48 days to sell a dwelling in October this year, compared with 55 days in October last year.

The median sale price in October 2013 was $575,000, compared with $517,000 in October 2012.

During the past six months there were 291 sales, compared with 277 for the same period last year and 216 for the previous year.

During the past 12 months, there has been a total of 610 sales. This compares with 544 for the same period last year and 462 for the previous year.

The total value of residential housing sales during 2013 is $311.8 million, compared with $304.4 million for the same period last year and $244.7 million for the previous year.