Wellington City's market shows modest cooling with total inventory dropping to 521 listings from 537 last week, while the median asking price slipped 0.5% to $795,000. Despite 394 properties scheduling open homes, average days on market has nudged up slightly to 40.2 days, suggesting buyers are taking more time to commit. The market remains active but vendors are showing increased urgency with 29 price reductions recorded this week.

The median asking price decline to $795,000 reflects growing vendor realism in Wellington City City's current conditions. With 334 properties listed as 'Enquiry Over' and only 11 showing firm asking prices, vendors are clearly seeking to gauge market appetite rather than setting hard price expectations.

Days on market creeping up to 40.2 days indicates Wellington City buyers are becoming more selective and taking additional time to make decisions. This slight increase suggests the urgency that characterized previous market peaks has dissipated, giving buyers more negotiating leverage.

New supply remains steady with 53 fresh listings entering Wellington City this week, but the 29 price reductions signal vendors are adjusting expectations to match current buyer sentiment. The net decrease of 16 total listings suggests some properties are being withdrawn or sold, keeping overall supply relatively constrained.

Tommys Wellington City dominates with 178 listings, holding more than double the inventory of second-placed Lowe & Co Realty's 135 listings. This concentration gives Tommys significant market influence and suggests they're either capturing more vendor mandates or maintaining longer average selling periods across their portfolio.