"Listing numbers have stopped sliding and are virtually unchanged from four weeks ago.
"In June, sales of properties in the $200,000- $300,000 price bracket were steady.
"However, those in the $300,000-$500,000 range were down by more than 40 per cent, and over $500,000 also recorded a drop of over 20 per cent," she said.
"We assume that the median price will catch up to the drop in property sales, usually with a drop in price."
The median days to sell for Hawke's Bay improved by six days compared to May, from 51 days in May to 45 days in June.
Over the past 10 years, the median number of days to sell for the Hawke's Bay region in June has been 50 days.
Reinz chief executive Helen O'Sullivan said: "An increasing shortage of listings in the most popular price brackets is limiting choice for buyers, coupled with rising price expectations from vendors."
All three trend measures were now easing, with the overall trend for the region also easing.
Reinz data also shows that nationally there were 6135 unconditional residential sales in June, equal to the number of sales in June 2012 and a fall of 20.5 per cent compared to May 2013.
However, on a seasonally adjusted basis, the volume of residential sales was up 0.6 per cent compared to May, and up 6.1 per cent compared to June 2012.
Six regions recorded increases in sales volume compared to the same month last year, with Taranaki recording an increase of 18.4 per cent, followed by Central Otago Lakes with 15.8 per cent, and Waikato/Bay of Plenty with 3.8 per cent.
However, all regions recorded a decrease in sales volume in June compared to May this year, with Hawke's Bay recording a decrease of 32.2 per cent, followed by Southland with a decrease of 29.8 per cent, and Manawatu/Wanganui with a decrease of 27.6 per cent.
