During June, sales of 248 single-family homes and 354 condominiums were reported through the Board’sMLS, decreases of 15.9 percent and 19.9 percent, respectively, for single-family homes andcondominiums from June 2010.
The median price paid for island properties in June was $562,500 forsingle-family homes and $301,000 for condominiums, a decrease of 3.4 percent for single-family homesand an increase of 0.3 percent for condominiums, compared to the same month last year.
According to theDays on Market indicator, sales closed at a similar pace last month compared to a year ago with singlefamilyhomes listing for 36 days and condominiums listing for 39 days.
“The median prices for Oahu single-family homes and condominiums have remained relatively stable,”said Joyce Nakamura, President of the Honolulu Board of REALTORS®.
“This time last year, marketactivity was boosted by the first-time homebuyer credit, so the decrease in sales recorded over last year isnot unexpected. We’re also experiencing a decrease in inventory on Oahu, which is a positive indicator of continued strong demand in the market. It’s a much more sustainable environment.”