The average and median selling prices of homes sold by the Auckland's largest real estate agency both declined last month.
Barfoot & Thompson's median selling price for homes sold in the Auckland region dropped back to $686,500 in February, compared to $700,000 in January and the all time high of $720,000 set in December.
February's median was the lowest the company has posted since October, however it was still well above the February 2014 median of $620,000 and the February 2013 median of $526,000.
Barfoot's average selling price was $747,521 in February compared with $757,319 in January and $678,533 in February last year.
The company sold 843 homes in February, down slightly on the 859 it sold in January but up on the 771 it sold in February last year.
"This February was one of our busiest on record, with sales up by 9.3% on those for the same period last year and new listings up 47.7% on those for January," Barfoot & Thompson managing director Peter Thompson said.
"With choice far greater since November, some of the pressure on prices eased and buyers showed more caution about paying over the top to get properties.
"The level of sales activity shows that while there is still strong buyer interest, for the time being buyers felt property was fully priced."
The company had a total of 3258 properties listed for sale on its books at the end of February compared with just 2899 at the end of January and 2500 at the end of December.
Sales selling for under $500,000 accounted for a quarter of the company's sales in February, while properties priced between $750,000 and $1 million were in high demand.
The company sold 174 homes for $1 million or more during the month.
Barfoot Auckland
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