Barfoot & Thomson had a healthy increase in sales in September but prices headed in the opposite direction.
Auckland's largest real estate agency sold 986 residential properties in September, up from 889 in August and 825 in September last year.
Last month's sales were the highest they have been for the month of September since 2020, suggesting the usual spring bounce is well underway.
However prices were softer, with the median selling price falling for the third consecutive month to $934,500. That's down from $1,020,000 in June, a decline of $85,500 (-8.4%) in three months.
September's median price was also the lowest it has been for the month since 2020.
Barfoot's average selling price last month declined for the sixth consecutive month to $1,081,269.
The agency received a generous helping of 1560 new listings in September, which was the most it has received in September since 2020.
That helped maintain the total number of properties the agency has available for sale at the higher than normal level of 5039, up 20.2% compared to September last year.
Barfoot's stock levels have been above 5000 since February this year, although they have been slowly declining for the last five months.
The last time Barfoots had more than 5000 residential properties on its books at the end of September was in 2010, which means stock levels are at a 14 year high.
That gives buyers plenty of choice and it should help to keep downward pressure on prices over the spring selling season.
"There is a wide variety of property styles on the market at the moment, across all price points, with a growing number of new build apartments and townhouses becoming available, making it a very interesting market for buyers," Barfoot & Thompson managing director Peter Thompson said.
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