First-home buyers and owner-occupiers remained the dominant buyer groups across the Bay of Plenty in May, while investor activity was subdued.

The median Days to Sell was 49, slightly above the 10-year May average of 48 days. The median sale price decreased 1.2% year-on-year to $800,000.

Most vendors were realistic with their price expectations, although some, particularly those moving from family homes into new builds, remained firm in an effort to offset elevated construction costs. Open home attendance was strong for well-positioned properties, with quality buyers active across most listings.

Auction activity remained subdued, with fewer properties going to auction and fewer bidders participating. While concerns about rising interest rates persisted, improving confidence among first-home buyers helped support market sentiment.

Local salespeople expect the market to remain steady through winter, with activity likely to continue at similar levels until after the general election later in the year.

If you would like more information on the market climate in your area, get in touch with your local EVES office: eves.co.nz/contact