The latest REINZ (Real Estate Institute of New Zealand) stats for June are now available, providing valuable insights into the current state of the Kāpiti Coast real estate market.

Current Market Overview

As of July 16th, there are 451 listings on the Kāpiti Coast. This level of inventory is typical for this time of year, as the winter months generally see a slowdown in property sales and turnover, leading to an accumulation of listings. However, there has been an uptick in buyer activity, with more individuals attending open homes compared to May. This increased interest suggests that buyers recognize the current market conditions as an opportunity to secure a property with a wide selection to choose from.

Historically, August sees a decrease in new listings as sellers often wait for the spring season to list their properties. This trend is expected to continue, and the last few weeks of August will provide a clearer picture of the market's trajectory as we move into spring.

Vendors are adjusting their expectations in light of the challenges posed by the current market, including the impact of interest rates on lending and the high number of listings resulting in longer days on market.

Suburb Breakdown

In Otaki/Te Horo, April saw 21 sales with a median price of $607,000, taking an average of 48 days to sell. May experienced a slight decrease in sales to 17, but the median price rose significantly to $731,000, with properties taking 57 days to sell. June continued this trend with 12 sales, a median price of $660,000, and 59 days on the market.

Peka Peka/Waikanae had 16 sales in April with a median price of $930,000 and 36 days to sell. May saw an increase to 29 sales, maintaining the median price at $930,000 but with a slightly longer average selling time of 40 days. June recorded 19 sales, with the median price dropping to $885,000 and an average of 41 days to sell.

Otaihanga/Paraparaumu recorded 36 sales in April, with a median price of $804,000 and 36 days to sell. In May, sales rose to 47 with a median price of $780,000 and 38 days on the market. June had 30 sales, a median price of $789,000, and 41 days to sell.

In Raumati/Paekakariki, April saw 13 sales with a median price of $904,000 and 47 days to sell. May saw an increase to 22 sales but a drop in median price to $713,000 and a quicker average selling time of 33 days. June matched April's 13 sales, with the median price rising to $820,000 and 35 days on the market.

Overall, the Kāpiti Coast had 89 sales in April with a median price of $804,000 and 36 days to sell. In May, sales increased to 116, with a median price of $775,000 and 37 days on the market. June saw 76 sales, a median price of $789,000, and an average of 41 days to sell.

Market Insights and Trends

The data highlights a few key trends:

There is a noticeable fluctuation in median sale prices across the different suburbs, reflecting the unique market dynamics of each area.

Days to sell have generally increased, indicating a more competitive market with more listings available.

As we look ahead, the transition into spring is expected to bring more clarity on how the market will perform for the rest of the year. Sellers and buyers alike should stay informed and be prepared to act as new opportunities arise.

Latest Listings

Explore our latest listings by clicking on the properties that catch your eye. If you have any questions or need assistance with your real estate journey, feel free to reach out. I am here to help.

Charlie Goodyer
Property Brokers | Proudly Kāpiti