Barfoot & Thompson's sales numbers and selling prices were firmer in May but stock levels were at their highest since 2008

Residential sales picked up in May for Auckland's largest real estate agency, while selling prices were volatile.

Barfoot & Thompson sold 885 residential properties in May, up a whopping 29% from April. However, that was still down 17% compared to May last year.

Selling prices were also up in May versus April, with the average sales price rising $25,965 to $1,157,213 from $1,131,248 in April, up 2.3% for the month.

The real estate agency's median selling price hit $980,000 in May, up 2.6% from April.

However, both the average and median selling prices have been volatile on a month-by-month basis since the start of the year, making it hard to pick a trend.

For example, Barfoot's median selling price started the year in January on exactly $1 million, declined to $904,000 in February, increased to $1,030,000 in March, declined to $955,250 in April, then increased to $980,000 in May. 

The number of new listings signed up by the agency dropped away sharply at 1586 in May, down 9.1% compared to April, and down 14.5% compared to May last year.

However, the total amount of stock for sale on the agency's books remains very high at 6188 residential properties at the end of May, up 1.7% compared to May last year. That's the highest stock level for the month of May since 2008. So buyers have plenty to choose from.

"In May, the market returned to the modest growth we saw in the first quarter of the year and is performing more positively than during the first five months of 2025," Barfoot & Thompson Managing Director Peter Thompson said.

"It is encouraging to see the market displaying such resilience," he said.

See the chart below for the monthly movements in Barfoot's average and median prices and the number of sales.