The latest data from the Real Estate Institute of New Zealand (REINZ) shows a steady but cautious market across the Top of the South.
REGIONAL MEDIAN PRICE TRENDS | |||
|---|---|---|---|
Mar-26 | Feb-26 | Mar-25 | |
Nelson | 710,000 | 738,768 | 650,000 |
Tasman | 794,000 | 674,000 | 655,000 |
Marlborough | 710,000 | 860,000 | 851,000 |
Nel/Marl/Tas Region | 749,000 | 760,000 | 738,000 |
Source: REINZ, Data Compared to March 2025, REINZ Monthly Property Report Published April 2026.
Properties are selling faster, with the average days to sell now at 38 days. Four days quicker than March 2025. Sales activity also increased 32.4% from February, reflecting a lift as buyers returned to the market after summer.
Median prices dipped slightly, down 1.4% from February, but are up 1.5% compared to March last year, indicating overall price stability.
The market continues to be driven by owner-occupiers and first home buyers, with less activity from investors and the top end. At the same time, higher stock levels are seeing vendors price more realistically to meet the market.
Open home attendance has remained consistent throughout campaigns. While fewer auctions were held, those that did take place achieved solid clearance rates.
Market sentiment remains cautious. Buyers are active but more considered in their decisions, influenced by wider economic factors. With stock levels still elevated, both buyers and sellers are approaching the market carefully.
Overall, conditions are balanced. Well-presented and well-priced properties continue to attract interest and achieve results.