REINZ March Market Report - Hawke's Bay

As we move into autumn, the Hawke’s Bay property market is showing signs of recalibration after a period of fluctuating conditions. The latest figures for March 2025 paint a clear picture of a market adjusting to our economic conditions,

The median sale price in Hawke’s Bay dropped by 3.4% compared to March 2024, settling at $700,000. While this isn’t a dramatic fall, it does indicate that vendors' expectation are becoming more realistic.

Homes are now spending more time on the market. The median days to sell has increased to 43 days, up from 39 this time last year. This signals a more considered approach from buyers who are taking their time to shop around, negotiate, and ensure they're making informed decisions. 43 days isn’t unusually long in historical terms.

Interestingly, the number of residential properties sold jumped 15.6% year-on-year, with 237 homes sold in March 2025. This is an encouraging sign that demand remains strong despite softer pricing and longer selling times. More listings may be hitting the market, or more buyers could be taking the plunge after sitting on the sidelines during recent uncertainty.