March 2025 Market Update

The Real Estate Institute of New Zealand (REINZ) has released the March 2025 figures. To better understand the state of the market and where it might be heading, I created some simple graphs. Personally, I find it much easier to scan a graph to see not just how the numbers have changed since last month but also to identify any longer-term trends. It’s far more helpful for me than trying to make sense of numbers scribbled on a piece of paper. Hopefully, these visuals will be useful to you too.

As we can see a rise from 77 sales in February to 89 in March which is pleasing, and although many ups and downs through the months we can see the last 12 months or so have shown an overall increase, hopefully increasing interest drops will help even further.

The graph below shows which price ranges the 89 sales recorded for March 25, came from, and really a continuation and increase from last month where we suggested that first home buyers were back in the market, more evidence of that below with 16 sales below $400k, lower interest rates will of course be the driving force... great to see

The graph below depicting our median sale prices in Rotorua over the last 2 years shows quite a drop from last month but again ups and downs on a monthly basis are normal, it is as always much more useful to look at any trend over a longer period, as I mentioned last month the trend line would appear to be fairly flat for the last couple of years, unfortunately property values haven't increased but they haven't dropped either.

Perhaps the most common question I am asked would be how long they are taking to sell at the moment? Well let's finish this month's update on a high, down from 70 days to sell last month to 44 days this month :) overall a downward trend continues, with ups and downs.