The Auckland property market remains red hot with Barfoot & Thompson's average selling price passing $900,000 for the first time and 38% of the homes it sold in June selling for more than $1 million. Just 5.7% sold for less than $500,000.
The average price of the homes sold by the agency, Auckland's largest by a substantial margin, in June hit a new high,of $908,343 in June compared to $874,623 (+3.9%) in May and $826,474 in June last year (+9.9%).
The median price of homes sold by the agency, also hit a new record high $839,500 in June, up 3.7% compared to May and up 6.1% compared to June last year.
Sales were steady, with the company recording 1,168 unconditional sales in June, down 10.6% from the 1306 it recorded in May, but almost unchanged from the 1,167 unconditional sales in June last year.
The agency signed up 1,770 new listings in June which was down 7.1% compared to May, but up 1.2% compared to June last year.
At the end of last month it had 2936 homes listed for sale on it books, down 2.6% compared to May and down 0.8% compared to June last year.
"The moderate increases in the average sales and median prices are a measure of a very tight supply situation," Barfoot & Thompson managing director Peter Thompson said.
"At the same time it demonstrates that residential purchasers are maintaining a level head in terms of the value they see in the properties on offer.
"These are signs that vendors are similarly realistic, even in a constrained market."
Of the the 1,168 homes the company sold in June, 446 (38.2%) sold for more than $1 million, while just 67 (5.7%) sold for less than $500,000.