Barfoot's median selling price was $1,125,000 in May, down $115,000, or 9.3%, from its November 2021 peak. The average selling price was $1,189,779, down $88,868, or 7.0%, from its December 2021 peak. The agency sold 782 residential properties in May compared to 1197 in May last year, a decline of 34.7%. At the end of May Barfoot & Thompson had 4701 residential properties available for sale, up 50.6% compared to May last year. "Sales prices are definitely starting to fall, but not dramatically," Barfoot & Thompson managing director Peter Thompson said.

Source: Stuff June 02, 2022 06:17 UTC