The number of new listings on the residential property market surged by 32% last month.

That's shown in the latest statistics from New Zealand's largest online database of homes for sale.

There were almost 14,000 new listings in the market during October, following a slow September.

Both the total number of new homes listed and the average asking price is now close to what it was a year ago.

There are 1.5% fewer new listings on the market than at the same time last year.

The average asking price is just under $490,000.

That's 1.3% higher than last October.