Auckland's median house price dropped to $940,000 in June, down $40,000 from May and $41,500 from a year earlier.
The June median represented the lowest for that month since 2020, according to figures from Barfoot & Thompson. The median price declined 4.1% month-on-month and 4.2% year-on-year.
The agency sold 890 residential properties in June, up 1.6% on the 876 sold in June last year. June was the strongest sales month for the agency in that month since 2021.
The average selling price fell to $1,107,945, down 4.3% from May and 2.0% from June last year.
Barfoot & Thompson Managing Director Peter Thompson said "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".
The agency received 1,458 new listings in June, up 3.8% year-on-year. Total stock on the books stood at 6,037 properties at month's end, the highest June level since 2008.
Thompson said properties under $750,000 attracted strong interest, with nearly a quarter of June sales in that price range.