"Volumes across the whole province are up massively," he said. "It's every town, every place, every price range from what we've seen ... The market is good."
Mr Mordaunt said there was a lack of stock throughout Wairarapa in all price ranges.
The shortage had pushed pushed prices up. February was traditionally the biggest month for listings, but it would have to be "a hell of a listing month" to replenish stock.
Andy Scott, principal of Professionals Patrick and Scott Real Estate, said sales and prices had been increasing since about October. January had been a good month, despite usually being a quiet time.
Mr Scott agreed listings were becoming harder to get, particularly for residential properties. He expected listings would pick up.
"There's a lot of people out there who have been wanting to move for five years but there's been nothing in it for them so once the prices catch up they'll start looking to upgrade."
The national median price of $465,000 was up $15,000 or 3.3 per cent on December 2014.
The median price, excluding Auckland, was $379,000, up $28,000 or 8per cent on the same time last year and a record high. Auckland's median price rose $92,000 to $770,000.
Figures showed 7313 dwellings sold in New Zealand last month, up 3.5 per cent on December 2014.
Ms Milne said regional markets had shown noticeable increases in median price over the past six months.
Waikato/Bay of Plenty, Hawke's Bay, Wellington, Nelson/Marlborough and Otago all reached new record median prices in December.
Northland recorded the largest increase in sales volume at 39 per cent, followed by Waikato/ Bay of Plenty at 30 per cent and Taranaki at 27 per cent.
