The median value of homes sold in Tauranga last month was much lower than in December, but was still $100,000 more than a year earlier.
The number of homes being sold is also dropping, and they are taking longer to sell.
Those are the main findings from REINZ data released today.
January is traditionally a slow month for house sales, and it is not surprising that fewer homes should have been sold last month compared with December. However, the numbers were also down when compared with January last year.
REINZ regional director Philip Searle said there was "less activity" in the Bay of Plenty, especially from investors.