Oahu Real Estate Market Update – APRIL SALES AND MEDIAN PRICES INCREASE FOR SINGLE-FAMILY HOMES AND CONDOMINIUMS, ACCORDING TO THE HONOLULU BOARD OF REALTORS

APRIL SALES AND MEDIAN PRICES INCREASE FOR SINGLE-FAMILY HOMES AND CONDOMINIUMS, ACCORDING TO THE HONOLULU BOARD OF REALTORS®

HONOLULU — The Honolulu Board of REALTORS® released resale figures today for the month of April. According to the analysis conducted by the Board, using data collected from its computerized Multiple Listing Service (MLS) system, the statistics are:

*Median price means half the prices were above and half below the given price.

During April, sales of single-family homes and condominiums increased by 29 percent and 33.2 percent, respectively, from April 2012. The median price paid in April was $625,000 for single-family homes and $335,000 for condominiums, increases of 4.2 percent and 5.0 percent, respectively, compared to the same month last year. According to the Days on Market indicator, sales of both single-family homes and condominiums sold faster last month compared to a year ago. Single-family homes were on the market for 23 days and condominiums for 19 days.

“Compared to this time last year, the tremendous jump in total number of sales and a rise in median price for both single-family homes and condominiums shows the market is poised to make a strong comeback.” said Kevin Miyama, president of the Honolulu Board of REALTORS®. “Our members are excited about April’s strong showing, and look forward to building on this momentum as we head into the summer months.”

The public is encouraged to visit the Board’s Internet web site at www.HiCentral.com to see what’s happening in the housing market. The public has the ability to search through Oahu single-family home and condominium listings, available for sale and for rent, and to see a comprehensive guide of homes that will be open to visit this Sunday. All searches can be done by geographic location, price range or both. HiCentral.com provides useful information about buying and selling real estate in Hawaii.

Established in 1922, the Honolulu Board of REALTORS® is one of the largest of 1,500 boards of REALTORS® in the nation and, with over 5,300 members, one of the largest trade organizations on Oahu. Membership is available to licensed real estate brokers, agents, property managers, appraisers, counselors and others engaged in all aspects of the real estate industry who pledge to adhere to a strict Code of Ethics and Standards of Practice. For more information, call (808) 732-3000 or visit www.HiCentral.com.

(This report reflects information about resales of existing properties only and does not include new home sales. All of the MLS information is compiled from sales reported during the cited months; this data is known only after closing of escrow. The time delay between the signing of a sales contract and the closing of escrow is usually between one and three months.)