Barfoot & Thompson's average and median selling prices continued to slide in August although sales volumes were average for the time of year.
Auckland's largest real estate agency sold 889 residential properties in August, barely changed form the 902 it sold in July, and the 879 it sold in August last year.
However prices continued to weaken.
The agency's average selling price was $1,107,837 in August, down $19,802 from $1,127,639 in July.
The average selling price is now $119,658 lower than it was at its summer peak of $1,227.495 in March.
The median price also continued its downward run, and was down by $17,800 compared to July, and down by $97,500 from its summer peak of $1,050,000 in March.
New listings also declined in August, with 1454 properties being added to the agency's books, down from 1518 in July.
That was the lowest number of new listings received since January and was down by 8% compared to August last year.
That helped to push the total number of homes available for sale at the end of August down to 5162, which was also the lowest level of stock the agency has had available since January.
However stock levels were still elevated at the end of August and were up 24% compared to August last year.
It was also the first time since 2010 that stock levels have been above 5000 in the month of August, which means the amount of stock the agency has for sale is at a 14 year high for the time of year.
That suggests buyers will continue to have plenty to choose from as the market moves into spring and will continue to be in a strong negotiating position regarding price.
"All indications point to the subtle confidence we have seen return to the Auckland residential housing market in the past few months continuing to grow as we enter spring," Barfoot & Thompson Managing Director Peter Thompson said.
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