During December, sales of single-family homes and condominiums increased by 8.6 percent and by 20.4 percent, respectively, from December 2011. The median price paid for island properties in December was $605,000 for single-family homes and $335,000 for condominiums, a decrease of 0.8 percent and increase of 17.5 percent, respectively, compared to the same month last year. According to the Days on Market indicator, sales of both single-family homes and condominiums were accepted at a faster pace last month compared to a year ago, with single-family properties listing for 30 days and condominiums listing for 26 days.
“December was another great month for the local real estate market, with the number of closed sales and the median sales price for condominiums experiencing double-digit growth,” said Kevin Miyama, president of the Honolulu Board of REALTORS®. “While the median sales price for single-family homes was relatively flat, the number of overall sales increased in what is typically a slower time in the real estate market. All of these are great indicators of our continued recovery.”
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