February sales down, but above average

Fifty-seven residential houses sold in Queenstown and Arrowtown during February, compared with 61 sales during the same month last year.

The February five- and 10-year averages for the number of sales are 52 and 55 respectively.

New Zealand Real Estate Statistics reported it took an average of 38 days to sell a dwelling in February 2014 compared with 34 days in February 2013.

The median sale price in February 2014 was $630,000, more than $540,000 in February 2013.

During the past six months there were 295 sales.

This compares with 297 for the same period last year and 238 the previous year.

During the past 12 months there have been 615 sales, compared with 586 for the same period last year and 482 for the previous year.

The value of residential housing sales during 2014 is $80 million.

This compares with $57.3 million for the same period last year.