Following a strong February, March continued to bring volume to the market while keeping consistency across other levers.
Buyer activity produced just shy of 300 sales for the month - up over 11% on February and the strongest March we've seen in five years. What's important here is that this isn't just people browsing - buyers are serious and making decisions.
While the median sale price eased only slightly to $745,000, it's been driven largely by more first-home buyers and investors being active in the lower to mid-price brackets. So it's more a shift in who's buying, rather than a drop in underlying value.
We're also seeing more homes come onto the market, with listings sitting at 1,022 in March and continuing to trend upward over the past few months. That's giving buyers more choice while taking advantage of holding interest rates and favourable terms from lenders.
This activity also shows when we look at how quickly homes are selling. Days on market are sitting at 39 - only slightly up - which tells us that despite more stock, well-presented and well-priced homes are still moving quickly, often with multiple buyers involved.
Overall, from what I'm seeing day to day, the market is still active, consistent, and has continued momentum.
Hamilton isn't just having a moment, its been building for years!
Hamilton isn't just having a moment - it's been building for years. The latest ANZ economic report points to strong population growth, rising GDP, retail spending above pre-Covid levels, and a more diverse, higher-value economy.
That's what's underpinning the market right now - and why we're seeing buyer demand lift and competition start to build again.
Hamilton recorded its strongest March for sales in five years, with buyer activity continuing to build. Lee Watkins looks at what’s happening across the local market.
Sources Monarch Real Estate Limited and realestate.co.nz.
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