Real estate prices have dropped in Dunedin, despite increases elsewhere in Otago.

Dunedin prices were down 1% last month compared to September 2013, and were 5% less than in August.

The median price was $265,000.

But the volume of sales increased 22% for the month - to 152 sales.

However that was 8% less than last September.

North Otago had the highest price rise, up 13% for the year.

And South Otago saw an 89% increase in the number of sales, to 17 for the month.