The surge in new listings struggled to keep pace with buyer demand, causing the time taken to sell to drop by one day from September to 32 days, said REINZ chief executive Helen O'Sullivan.
Although sales volumes rose across the country in October, prices did not automatically follow, she said.
"The market is very much in two parts - the metropolitan regions of Auckland, Wellington and Christchurch where prices are rising and the rest of the country where price trends are mixed."
In Auckland, most of the activity is in around the central city, northern suburbs and eastern beaches, O'Sullivan said.
"Buyer enthusiasm is less evident in South Auckland and the rural fringes north and south which is reflected in smaller increases in the median price and a longer time for sales to be achieved."
Nationally, the total value of residential house sales was $3.15 billion last month. That was a jump from $2.62 billion in September, and $2.15 billion in October last year.
There were 6640 unconditional residential sales across the country, a seasonally adjusted 5.7 per cent higher than September and 24.7 per cent higher than October last year.
Sales of houses in the $600,000 to $1 million band increased 73 per cent in the past year.
Sales in the over-$1 million band have increased by 96 per cent.
Across the country, 20.2 per cent of all sales last month were by auction. A total of 1,343 homes sold by auction was up from 689 sales in October last year.
