Pukehangi, with a median of 23 days, and Western Heights, with a median of 24, rounded out the top three fastest-selling suburbs.
CoreLogic looked at suburbs across New Zealand which had recorded 100 sales or more in the year ending June 2018. So while the median days to sell in Ngongotahā was 15, it was not included in the final figures.
New Zealand's fastest selling suburbs – how does yours compare?
Chief executive of Realty Services, which operates Eves and Bayleys Simon Anderson said: "Rotorua is a good story at the moment as a city and real estate benefits from that".
He said it was all about location.
"With Ōwhata, you look at the location in relation to schools, to facilities like supermarkets and the airport.
"All these things add up to make that suburb really popular so I'm not surprised by the results given what location means to people and what's happening in Rotorua."
Duncan Realty general manager Richard Graham said the fast selling suburbs were likely to be either more desirable or affordable.
"With a very strong shortage of stock, it's driving people to act quickly when a property does come on [the market] that suits their budget or is in the area they are looking for."
Graham said many properties were receiving multiple offers and a lot of buyers walked into open homes "ready to act" with finance pre-arranged.
Interactive: How has rent changed in your neighbourhood?
Professionals McDowell Real Estate co-owner Steve Lovegrove said he couldn't pinpoint a reason a specific suburb was more popular than others but those that had sold quickly all had something in common.
"That is, inside every one we've got a first home buyer opportunity. People looking around that $300,000 to $400,000 range. That's really attractive for first home buyers.
"We're finding that because of a shortage of properties people are becoming more decisive," he said.
"Properties are not taking very long to sell and that's reflective of demand and the type of buyer in that price range."
OneRoof editor Owen Vaughan said the reasons some suburbs sold faster than others were that they had houses in a certain price range, where there may be limited supply.
"I would say that demand for a certain location, rather than price point, was a key driver of days on the market in Rotorua. That would explain the popularity of the fast-movers.
"But price does come into it."
FOR MORE PROPERTY NEWS AND LISTINGS GO TO ONEROOF.CO.NZ
He said when the threshold of suburbs with 100 sales or more was removed, the city had a fast selling rate overall.
Across the whole city, Rotorua's median days to sell is 23 making it the 16th fastest in the country.
Fastest selling suburbs
- Ōwhata: median days to sell 19, median value $403,650, properties sold in 12 months 167.
- Pukehangi: median days to sell 23, median value $396,600, properties sold in 12 months 134.
- Western Heights: median days to sell 24, median value $292,950, properties sold in 12 months 112.
- Glenholme: median days to sell 27, median value $459,050, properties sold in 12 months 117.
