Wellington City market shows steady conditions with inventory declining modestly from 485 to 467 active listings while median asking prices held firm at $795,000. The 42-day average days on market remains virtually unchanged, indicating consistent buyer engagement levels. With 340 properties scheduling open homes and only 14 price reductions detected, vendor confidence appears stable across the Wellington City market.
Median asking prices maintained stability at $795,000, showing no movement from the previous week despite modest inventory contraction. The dominance of Enquiry Over pricing (291 of 467 listings) suggests vendors remain confident in their pricing positions, while the relatively low number of fixed price listings (8) indicates most sellers prefer negotiation flexibility in current Wellington City conditions.
The 42-day average days on market in Wellington City City shows minimal change from 42.2 days previously, suggesting buyer demand remains consistent but not urgent. Mount Victoria leads with the fastest sales velocity at 27 days, while Thorndon properties are taking longest at 51 days. This stable DOM pattern indicates the Wellington City market has found a rhythm where properties move at predictable speeds.
New supply of 51 listings this week helped reduce overall inventory by 18 properties, indicating reasonable absorption rates in Wellington City City. With only 14 price reductions detected across 467 listings, vendors are maintaining their pricing discipline rather than chasing the market downward. The modest supply-demand balance suggests neither oversupply nor shortage pressures in the Wellington City market currently.
Tommys Wellington City dominates with 158 listings, commanding over one-third of market share, followed by Lowe & Co Realty with 118 listings and Ray White Leaders Group Wellington City with 78. This concentration suggests these agencies have strong local networks and vendor relationships, potentially giving them first access to new listings. Smaller agencies face significant competition for market visibility in the Wellington City landscape.
Target Mount Victoria and Mount Cook for quick turnaround opportunities, as both suburbs show sub-30 day average sales cycles.
Focus on Enquiry Over pricing strategies for vendor presentations, as this approach represents 62% of current Wellington City listings.
Emphasize consistent marketing timelines of 6 weeks with vendors, as the 42-day DOM average provides realistic expectation setting in Wellington City City.