The number of real estate sales in Wanaka in May is believed to be a record for the town.
A total of 74 sales were reported - 37 houses or apartments and 37 sections.
Professionals director Helen Henshall said: ''We've never clocked 70, ever, even when it was booming.''
Her records went back 11 years and she began as a Wanaka real estate agent several years prior to that.
''There just seems to be a bit of positive energy out there in the marketplace.
''There's no reason for it.''
While house sales had been ''creeping up'' each year, Ms Henshall said, it was section sales that had shown the biggest increase, and those in the Peninsula Bay area in particular.
''It's not as if we have got an under-supply of sections.
''We seem to be top-heavy with what we are stocking but as it comes up, it's just walking out the door.''
Her report showed the top sale for May was $2.6 million for 16ha on the Wanaka-Luggate highway.
It had a government valuation of $2.15 million. The cheapest was a $115,000 section in Alice Burns Dr, Luggate, with a GV of $97,000.
Sales figures for last month were expected to show a return to more normal levels, and Ms Henshall accepted sales might have peaked in May.
A real estate agent who preferred not to be named said the interest in sections could be related to the limited supply of ''titled'' sections, and he believed the supply would tighten even further.
Two subdivisions with many hundreds of sections - Three Parks and Northlake - are not expected to come on to the market until at least 2017.
Mike Greer Homes' Wanaka general manager, Tane Tawera, said the company built 40 houses in the Queenstown Lakes District in 2014 and was on track to complete a similar number this year.
Nearly three-quarters of the homes it is building this year are in Wanaka, but a large contract in Queenstown next year meant the firm would need to increase its resources there, he said.
