Auckland's median sale price dropped by $30,000 between March and April based on sales by the city's largest agency Barfoot & Thompson.
Prices fell from $860,000 in March to $830,000 last month, based on just 731 sales, well below the 1,064 made in March, data showed.
Yet that agency, with more than 40 per cent of the market, remains upbeat about the situation, saying it believes Auckland's housing market may well have bottomed out.
Peter Thompson, Barfoot managing director, said that prices and sales showed that the market may be ready to emerge from its hibernation and there were modest indications that confidence was returning.
The average sales price for the month was $930,223, was up 1.4 percent on that for April 2017, and the average selling price has now varied little over the past 12 months, he said.
Yet the average sale price dropped from $931,292 in March to $930,223 last month.
Thompson said the 731 sales last month was up 10.1 per cent on sales number in April last year and in the first four months of this year sales were up 3.2 percent on those for the comparative period last year.
While prices are not poised to start their upward climb, further price declines against 2017's prices are the least likely future outcome, he said.
Buyers could have confidence at the prices they are now paying, he said.
Quotable Value also released data this week showing Auckland house values down.