February already! The market in the Kapiti Coast is continuing to show resilience, with steady demand and a healthy level of sales activity. While the holiday season traditionally brings a slowdown, the latest data suggests a promising start to the year for both buyers and sellers.
Market Performance: According to the latest REINZ report, the median sale price in Kapiti sat at $835,092, showing that properties are selling on average 5% above their Rateable Value (RV). While this percentage has fluctuated slightly in recent months, it remains a positive sign for homeowners considering selling.
The number of sales in January was 75, down from December’s 102, but this is expected as summer holidays tend to slow the market. Days to sell have increased to 110 days, suggesting that while demand is present, buyers are taking a little longer to commit.
Suburb Spotlight:
What’s Happening with Buyers? Trade Me’s Market Insights report indicates a 15% rise in new listings, meaning more properties are coming onto the market, giving buyers increased options. At the same time, buyer activity is up 11%, showing continued interest in the region.
The average asking price on Trade Me for Kapiti Coast properties sits at $877K, a 3% increase compared to last month. This suggests confidence remains strong, with buyers still willing to pay competitive prices.
What Does This Mean for You? If you’re thinking of selling, now is a great time to list, as buyer activity remains steady, and properties continue to achieve sales above RV. However, pricing competitively is key, as buyers are taking their time to make decisions.
For buyers, the increase in listings means more choice and potentially more room for negotiation. While prices have held firm, taking the time to find the right home at the right price could pay off.
The Kapiti Coast market remains balanced and active, setting the stage for an interesting few months ahead. Whether you’re buying or selling, staying informed and making data-driven decisions will help you get the best outcome.
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.
