Farm sales have continued to increase in the run up to winter, when rural property sales traditionally slow down.
The Real Estate Institute says there 103 more farms were sold during the three months ending in May compared with the corresponding period last year, an increase of 28%.
For the year so far, almost 1400 farms have been sold, 50% more than for the first five months of last year.
However, the median price per hectare for all farms has eased back. The Institute says buyers are showing some caution as a result of the fall in farm product prices.
Grazing properties accounted for the largest number of sales and there has also been a noticeable increase in vineyard sales in Marlborough.