Barfoot & Thompson had strongest June sales since 2021 but the median selling price fell $40,000 from May

Auckland's largest real estate agency had a solid level of sales in June although selling prices were softer.

Barfoot & Thompson sold 890 residential properties last month, up slightly (+1.6%) from 876 in June last year. It was also the most properties the agency has sold in the month of June since the boom year of 2021.

It also comes on top of the the 885 properties sold in May, which gives Barfoot two consecutive, reasonably solid months of sales for the time of year.

But while sales numbers were firm, selling prices were softer.

Barfoot's median selling price dropped to $940,000 in June, down $40,000 (-4.1%) from May, and down $41,500 (-4.2%) from June last year.

It was also the lowest median selling price in the month of June since 2020.

The real estate agency's average selling price was $1,107,945 in June, down $49,268 (-4.3%) from May, and down $22,890 (-2.0%) from June last year.

New listings were also solid with 1458 received in June, up 3.8% compared to June last year.

Total stock for sale fell slightly with 6037 properties on the agency's books at the end of June, down from 6188 at the end of May.

However, stock levels are still elevated, and the 6037 properties Barfoot had for sale at the end of June was the most for a June month since 2008, putting stock levels at an 18-year high.

"The market is in a state where buyers are active and where vendors, understanding that there are high levels of stock available for sale, are being realistic about sale price," Barfoot & Thompson Managing Director Peter Thompson said.

"Property in the under $750,000 price range attracted a great deal of interest, and nearly a quarter of all our sales in June were in this price category," Thompson said.