The March 2024 statistics from The Real Estate Institute of New Zealand (REINZ) have been released, showing a significant increase in listings and stock levels, creating more options for buyers. REINZ Chief Executive Jen Baird says the market is clearly more active compared to a year ago, with high listing numbers, increased stock levels, higher sales counts and higher median sales prices.

New Zealand’s inventory levels have increased by 13.5% from 29,284 to 33,245 properties year-on-year – the highest level since 2015.

In the Bay of Plenty, there were 420 sales reported for the region in March, a 7.1% increase on the same period last year. The median sale price is down -4.3% year-on-year and now sits at $785,000. The median days to sell is recorded as 42 for March, a 19 day improvement on the same period last year.

Over in the Waikato, the volume of sales has increased 16.3% year-on-year, with 671 sales in the region during March. The median sale price for Waikato was reported at $760,000, a 2.8% increase on the year prior, with no change to the median days to sell at 45 days.

Northland reported 152 sales for March, a slight -1.9% decrease year-on-year, with a median sale price of $710,000. The median days to sell for the region during March was 59, an improvement of 8 days on the year prior.

For more information on the market activity in your area, view our Market Update reports below:

Download the Bay of Plenty Market Update - March 2024 

Download the Waikato Market Update - March 2024

Download the Whangarei Market Update – March 2024