While homeowners across much of New Zealand are walking away with more than they asked for when selling their properties, Coromandel vendors are being forced to adjust expectations — with final sale prices falling well short of asking prices.
According to new analysis from property site realestate.co.nz, sellers in the Coromandel region listed properties for an average asking price of $1,116,914 between January 2024 and May 2025. However, the average selling price was just $1,071,241 — a notable shortfall of $45,673.
This made Coromandel the region with the largest gap between vendor expectations and what buyers were willing to pay, outpacing Northland ($14,117 below asking) and Waikato ($8,399 below asking).
The figures come from a comparison of more than 53,000 residential property sales across New Zealand during the 17-month period, matched against asking prices listed on realestate.co.nz and sales data from the Real Estate Institute of New Zealand (REINZ).
Nationally, the trend is slightly more optimistic. On average, sellers asked $894,915 for their homes and walked away with $898,845 — earning about $3,930 more than expected. Wellington led the way in seller gains, with vendors achieving, on average, $17,000 more than their asking price.
Vanessa Williams, spokesperson for realestate.co.nz, said the national results reflected a shift toward greater pricing realism.
“The last 18 months have been tough for sellers,” she said. “But we are seeing that by the time their home sells, vendors are getting realistic with their price expectations. This seems to be having a surprisingly positive outcome, as they are ending up with slightly more than they bargained for.”
But in Coromandel, the figures tell a different story.
The region has long been known for high-value holiday homes, coastal retreats, and lifestyle properties, especially in hotspots like Whangamatā, Pauanui, and Matarangi. However, rising interest rates, insurance costs, and a retreat of out-of-town buyers since the pandemic-era boom have put downward pressure on prices.
In 2023, Coromandel’s average asking price sat just above $1.1 million, slightly lower than in early 2022 when pandemic-fuelled demand pushed some listings above $1.2 million. Despite a modest pick-up in sales volume in late 2024, buyers remain cautious and unwilling to meet some of the higher vendor expectations.
“Successful transactions come down to pricing that both parties can agree upon and open negotiation,” said Williams. “The property market only functions when buyers and sellers are prepared to meet somewhere in the middle.”
Despite the gloomy picture painted by statistics, Ray White Whangamata and Whitianga Selling Principal Reuben van Dorsten said his branches are still experiencing a highly active market across all value segments and buyer engagement is strong across the board.
“Whether it’s residential development sites, renovated homes, or commercial opportunities. Recent sales have occurred via auction, priced campaigns, and off-market deals, “he said.
However, van Dorsten concurs with other industry experts who say sellers in the Coromandel will still need to carefully assess current market conditions and avoid overpricing in what remains a selective and price-sensitive environment. While properties are still moving, overambitious asking prices are proving a barrier.
“ If a property is perceived to be overpriced, it’s likely to sit on the market for some time”, van Dorsten said.
The recent data serves as a timely reminder that even in popular regions, aligning price expectations with market realities is key — especially as winter traditionally sees a cooling in buyer activity.
van Dorsten noted that despite the markdown, savvy sellers will still get their desired result and advised buyers to do their homework:
“What stands out is that buyers are value-driven and highly informed. With easy access to extensive market data and insights, they are well-versed in pricing and property values. When they see value, they act quickly and decisively.”
“As we move into spring and the usual seasonal increase in listings, correct pricing will be more critical than ever. With more choice available, buyers will be focusing on seller motivation, presentation, and, above all, value.
“ Sellers who understand this will have no problem being sold,” he added.
