During September, sales of 304 single-family homes and 350 condominiums increased by 7 percent and decreased by 3.8 percent, respectively, from September 2011. The median price paid for island properties in September was $637,000 for single-family homes and $319,500 for condominiums, increases of 11.8 percent and 0.9 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 26 days and condominiums listing for just 27 days.
“One of the biggest trends that we saw in September was the decrease in days on market for both single family homes and condos,” said Joe Paikai, president of the Honolulu Board of REALTORS®. “There is less inventory now than a year ago, so homes are selling faster and prices are continuing to rise.”
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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.