Barfoot & Thompson posted some mixed results in April, with sales volumes at a four year high while prices were in decline and total stock levels hit a 17 year high.
The real estate agency, which is the biggest in the Auckland market, sold 842 residential properties in April, which was up 19.6% on April last year and the best sales result the agency has achieved in the month of April since 2021.
However, prices headed in the opposite direction.
April's median selling price was $934,000, down by $36,000 compared to March (-3.7%) and down by $73,500 (-7.3%) compared to April last year.
That was the lowest median selling price in the month of April since 2020.
The average selling price was $1,110,689 in April, down by $34,356 (-3.0%) compared to March and down by $102,139 (-8.4%) compared to April last year.
Barfoots received 1578 new listings in April, almost unchanged from the 1580 it received in April last year.
However the total number of residential properties available for sale by the agency remained elevated at 6113 in April, which was the most properties the agency has had available for sale at the end of April since 2008, putting stock levels at a 17 year high.
That is a particular concern as the market leaves behind the more buoyant summer months and heads into winter.
Barfoot & Thompson Managing Director Peter Thompson said sales slowed in the early part of April when talk of tariff trade wars reached its highest, but rebounded quickly toward month's end.
But prices were weaker.
"From a price perspective, the market showed no signs of lifting," Thompson said.
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