Auckland's largest real estate agency had a cracking month in August, with the number of properties sold up 41% compared to August last year.
Barfoot & Thompson sold 1055 residential properties in August, down slightly from the 1095 it sold in July but up 309, or 41%, from the 746 properties the agency sold in August last year.
"August trading was exceptional," Barfoot & Thompson Managing Director Peter Thompson said.
"Buyer demand was strong and consistent and for the second consecutive month sales numbers for this time of year were at a level last seen at the height of the last property cycle," he said.
The agency also received 1354 new listings in August, which was down 11% compared to July, but up 29% compared to August last year.
That left the agency with total stock of 3703 properties available for sale at the end of August, down 4% compared to the end of July, and down just 3% compared to the end of August last year.
Selling prices remained firm. Barfoot's median selling price was $911,500 in August, up 2% compared to July, and up 10% compared to August last year, although it was still just below the record median of $925,000 set in March this year.
The average selling price hit a new all time high of $995,543, which was up 1.7% compared to July and up 7% compared to August last year.
"Sales were strong across all price segments and across all suburbs and districts," Thompson said.
The latest Level 3 lockdown restrictions in Auckland had only a minor impact on the market.
"During the first, more restrictive [Level 4] lockdown, the Auckland property market was stopped in its tracks, but in August the market sailed through the latest restrictions," Thompson said.
The interactive chart below shows the monthly trends in Barfoot & Thompson's median and average selling prices, sales numbers and new listings.
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