In the three months to the end of August 2016, the median sales price per hectare was $40,469, with 14 properties sold.
In the same period a year earlier the median price was $26,906, with 21 properties sold, a rise of 50.4%.
The figures cover the winter period, with REINZ noting that the low level of sales can distort statistics.
The median size of a dairy farm sold was 100ha.
The price rises for dairy farms are far above the performance of other farms, with the median price per hectare for finishing farms rising 4.5%, grazing farms falling 9.8% and horticulture farms falling 0.3%.
Grazing properties accounted for the largest number of sales with a 40% of all sales in the three months to the end of August 2016, finishing for 19%, horticulture 20% and arable accounting for just 9%.
Dairy farm operators are in their third season of low global dairy prices but have been given heart by recent gains in the GlobalDairtyTrade auction.
These improved returns have led to processors raising their forecast price per kilogram of milksolids, with Fonterra raising its price by 50 cents to $4.75 in August.
