The median price for a farm in the Bay of Plenty dropped in the three months to the end of February, but the number of farms selling has marginally increased, according to the latest figures released by the Real Estate Institute of New Zealand.

Median farm prices in the Bay dropped to $1,162,500 during the three month period from $1,175,000 in the three months to the end of January 2010.
There were 24 farms sold during that period, up from 23 to the end of January.
Of the 24 farms sold, 15 were horticultural farms, four dairy, four grazing and one forestry.