Real estate agents are blaming unsettled weather and market conditions for putting a dampener on the early spring rural property market.
Real Estate Institute statistics show that for the three months ending in September 11 more farms were sold than during the same period last year.
The median price-per-hectare of more than $18,000 was also slightly up on last year.
But the number of farm sales wase down by almost 50 on the previous three month period, ending in August.
The institute's rural spokesman Brian Peacocke says cold, wet conditions hit feed supplies and production, resulting in increased "on-farm" stress.
He says there is strong demand for quality dairy and larger sheep and beef farms, but the shortage of listings is a serious constraint on buyers.
Mr Peacocke says more farms are expected to come on to the market this month and next month, but there are still unlikely to be enough to meet the demand.