Farm sales for the quarter to March dipped 11% with 50 fewer sales than in the same period a year ago.
The spread of the Mycoplasma bovis cattle disease - now affecting 32 properties - is affecting sales in some regions.
Arable and grazing properties bore the brunt of the decline, arable down almost 41% and grazing almost 37%, while 4.8% more dairy farms sold and finishing properties were up 26.6%, according to Real Estate Institute of New Zealand data.
In the quarter to March there were 388 farm sales, compared with 384 for the quarter to February 2018.
There were 1513 farms sold in the year to March 2018, 15.7% less than a year ago, REINZ rural spokesman Brian Peacocke said in a statement.
Around Otago there was a continuation of solid sales and activity, on both finishing and grazing properties, despite an early strike of winter, he said.
In Southland, a combination of good autumn conditions, product prices and low interest rates underpinned a return in confidence, seen in busy activity and sales of finishing and grazing units, although values were back by up to 20%.
Mr Peacocke said dairy farms were now being taken off the market until next season.
He said Mycoplasma bovis and its ongoing management issues were a major issue in Southland, particularly for owners of properties seeking a sale.
Mr Peacocke described the disease as ``invidious'' and sapping the financial and social resources of those affected. More than 22,000 cattle are to be culled in an attempt to eradicate the disease.
