Kia Ora! I'm Charlie Goodyer, a Kapiti Coast real estate agent with a deep understanding of our local market. In this blog post, we'll delve into the latest trends using REINZ data (May 2024) to help you navigate the current Kapiti Coast housing market, whether you're a buyer or seller.
Market Overview
As of today, June 17th, there are 428 active listings on the Kāpiti Coast. The REINZ Stats from March, April, and the freshly released May 2024 report highlight some interesting shifts.
The most notable change is the increase in property sales in May compared to April, with an additional 27 sales. However, the average sale price has seen a significant drop of $66,000 when comparing May to March. The average days to sell remain stable at 37 days, with higher-tier properties taking longer to sell compared to lower-tier properties.
Seasonal Impact
With winter setting in, we are experiencing shorter days and fewer new listings. This seasonal shift can create a favorable environment for sellers, as reduced competition may benefit those who decide to list their properties now. For buyers, finding a property you like in winter can be a strong indicator of its appeal during the summer months.
I’m always interested in hearing your thoughts on the market, whether you’re buying or selling. Feel free to share your experiences and perspectives!
Kapiti Suburb Breakdown - May 2024
In May 2024, Otaki/Te Horo had 17 sales with a median sale price of $731,000 and properties taking an average of 57 days to sell. Peka Peka/Waikanae saw 29 sales with a median sale price of $930,000, with properties selling in about 40 days. Otaihanga/Paraparaumu recorded 47 sales with a median price of $780,000 and an average of 38 days on the market. Raumati/Paekakariki had 22 sales with a median sale price of $713,000, and properties sold in an average of 33 days. Overall, the Kāpiti Coast had 116 sales with a median sale price of $775,000 and an average of 37 days to sell.
Conclusion
The Kāpiti Coast real estate market shows dynamic changes with seasonal impacts influencing buying and selling activities. Whether you're a buyer or a seller, understanding these trends can help you make informed decisions.
Working with a local real estate agent ensures you have access to the latest market insights and expertise to navigate this changing landscape.
Ready to Make a Move?
Whether you're buying or selling on the Kapiti Coast, I'm here to help you achieve your real estate goals. Contact me today for a free consultation!
Have you considered buying or selling a property? Or do you know of a family member, friend or colleague who is considering buying or selling a property? Contact Charlie Goodyer to experience next level service.
