The latest figures from the Real Estate Institute of New Zealand show the property market across Nelson, Tasman, and Marlborough remains steady overall, with modest price growth and continued buyer activity in key price brackets.

Prices Continue to Edge Up

Median property prices increased across all three regions compared with the same time last year.

• Nelson: Median price rose 4.5% to $744,000
• Marlborough: Median price increased 2.0% to $663,000
• Tasman: Median price climbed 7.9% to $847,000

Across the wider region, the combined median price now sits at $751,000, reflecting gradual growth rather than rapid market movement.

First Home Buyers and Investors Most Active

Buyer activity in February was led by first home buyers, particularly those searching for homes under $800,000, alongside investors returning to the market.

Open homes for newly listed properties attracted good attendance early in the month. However, overall enquiry levels softened slightly after the first couple of weeks.

A Market That Favours Buyers

Current conditions continue to favour buyers, largely due to increased property choice.

With more listings coming to market, buyers have greater opportunity to compare options and take time making decisions. Vendors are increasingly adjusting price expectations to align with market conditions, although some sellers who purchased during stronger markets still hold higher expectations.

Sales Activity Lower Than Last Year

• While prices have remained relatively stable, the number of sales has declined compared with February last year.
• Across Nelson, Tasman, and Marlborough there were 192 sales in February, down from 250 sales in February 2025.
• Properties are taking slightly longer to sell
• The median days to sell in Nelson, Tasman, and Marlborough is currently 54 days, which is higher than the 10-year February average of 45 days. This reflects a market where buyers are taking a more considered approach.

What This Means for Buyers and Sellers

Overall, the local property market remains stable and balanced.

• Buyers currently have more choice and negotiating power.
• Sellers who price their homes realistically and present them well are still achieving strong results.
• With listing numbers continuing to grow, market activity will be closely monitored in the months ahead.

If you’re considering buying or selling, speaking with a local expert can help you understand where your property sits in the current market.

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Source: REINZ - New Zealand Property Report - February 2026