The Latest Kāpiti Coast Real Estate Update – What’s Happening This Spring?
As we move into spring, Kāpiti Coast’s real estate market is seeing some interesting shifts. The number of new listings remains steady at 390 as of mid-September, with a slower influx of fresh properties. However, older stock is clearing, and we’ve noticed an increase in the average days to sell across many suburbs for August.
With Christmas fast approaching, we’re entering a critical period. Buyers are eager to secure properties before the holiday break, and sellers may feel the pressure to list now to take advantage of the pre-Christmas window.
Let’s dive into how each suburb performed recently:
•Otaki/Te Horo: After a relatively steady June and July, August saw a surge in both sales (19) and average price ($710,000). However, homes in this area are taking longer to sell, with the average number of days on the market jumping to 108.
•Peka Peka/Waikanae: While there was a slight decrease in sales in August compared to July, prices held firm with an average of $885,000. The average time to sell also edged up to 58 days, indicating some cooling in buyer urgency.
•Otaihanga/Paraparaumu: Activity continues to climb in these suburbs with 39 homes sold in August at an average of $795,000. However, the average time to sell has risen to 69 days, up from 36 in July, showing that while demand remains strong, homes are taking a little longer to move.
•Raumati/Paekākāriki: These areas experienced a notable increase in average sale prices, with homes selling for $1,030,000 on average in August. However, properties are sitting on the market longer, with the average days to sell rising to 85.
•Kāpiti Coast Overall: Across the region, August brought 102 sales, and the average price reached $848,000, a notable increase from previous months. The average number of days to sell jumped to 78, reflecting a bit of a slow-down in buyer urgency.
As we move closer to Christmas, the market typically picks up pace, and the time to list is now if you want to make the most of this buying window. Whether you’re thinking of selling or looking for your dream home, this is a critical period.
Don’t hesitate to reach out and get in touch with me for advice on navigating this dynamic market!
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.
