Far fewer homes sold across Nelson and Tasman in July, with Tasman recording its lowest July sales count since 2017.
New figures from the Real Estate Institute of New Zealand (REINZ) show 67 properties sold in Nelson during July, down 16.3 percent on the same month last year. In Tasman, 50 properties sold, a drop of 33.3 percent.
While sales fell sharply, house prices saw smaller shifts.
Nelson’s median house price was $705,000 in July, down 6.9 percent from a year earlier. Tasman's median price fell 1.9 percent to $795,000.
Across Nelson, Tasman and Marlborough, 186 properties sold during the month compared with 239 in July 2025, a decline of 22.2 percent.
Homes are also taking longer to sell.
The median time to sell across the region was 52 days, compared with the long-term July average of 42 days. Housing stock also increased, with 26 weeks of inventory available, four weeks more than a year ago.
REINZ says buyers continue to have plenty of choice, with market sentiment influenced by economic conditions, the season and higher stock levels.
“Market sentiment continued to be shaped by broader economic conditions, seasonal factors and high stock levels, with buyers continuing to have plenty of choice,” REINZ reported.
The report says investor activity may remain subdued until after the November general election, although agents expect activity to pick up in the coming months.
Nationally, the median house price fell 0.7 percent to $760,000 and sales were down 10 percent compared with July last year. Properties took an average of 50 days to sell.
