Real estate agent Jim Connors said the Ray White Emms Mooney team has sold six residential homes for over $1 million each in recent months.

"It's all been in the last three months that the market has escalated exponentially," he said.

"There's been a strong drive with the network. We've been selling a lot of large scale farms, who've been injecting money back into the local residential market of Bathurst."

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What you can buy for $1 million in Bathurst varies.

Mr Connors said the recent sales include properties in the central business district and suburban residential homes, and the growth in value in those homes this year has been enormous.

"It's anywhere from 20 to 30 per cent," he said, adding that it did come as a surprise.

"I think it's just the strength and the ability to market property without a price, and certainly it's something where, in a market like this, you don't want to sell them on the first day or in 48 hours.

"And as a networking team with the bespoke, no-price strategy that we use, and buying a bit of time on market to maximise the result for our vendors, that's what's resulted in these sales."

Contrary to opinion, a lot of the buyer activity being seen in the market at the moment is coming from locals.

Many people who have sold the $1 million homes are staying in Bathurst and purchasing new property.

Mr Connors said they are usually downsizing or looking for small acreages in Bathurst.

It appears unlikely that the level of demand or the growth in house prices will slow down anytime soon.

"The way the market is, the level of inquiry that we're getting across the whole of the tablelands, it's indicating to us that it's going to continue to be strong," Mr Connors said.

"It's the strongest I've ever seen it in my career."

Agents were warning of further house price rises in October as Bathurst's median house price jumped 20 per cent during the COVID-19 pandemic.

Agent Chapman Real Estate's David Chapman predicted that the current conditions could continue for another 12 months.

"Whilst ever we have a drought, a lack of stock, a lack of properties to sell, the only result in that is going to be high prices because the number of buyers looking is outstripping properties. I certainly don't see that changing. I think that's going to be the case certainly for the next 12 months," he said.

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