HONOLULU HOME SALES, PRICES DIP SLIGHTLY IN AUGUST, BUT HOUSING

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HONOLULU HOME SALES, PRICES DIP SLIGHTLY IN AUGUST, BUT HOUSING INVENTORY UP, ACCORDING TO HONOLULU BOARD OF REALTORS®

HONOLULU HOME SALES, PRICES DIP SLIGHTLY IN AUGUST, BUT HOUSING
INVENTORY UP, ACCORDING TO HONOLULU BOARD OF REALTORS®

HONOLULU HOME SALES, PRICES DIP SLIGHTLY IN AUGUST, BUT HOUSING

INVENTORY UP, ACCORDING TO HONOLULU BOARD OF REALTORS®

HONOLULU — The Honolulu Board of REALTORS® released resale figures today for the month of

August 2014. According to the analysis conducted by the Board, using data collected from its computerized Multiple Listing Service (MLS) system, the statistics are:

During August, sales of single-family homes decreased by 11.7 percent, while condominium sales decreased by 3.5 percent from August 2013. The median price paid for single-family homes in Augustdecreased slightly by 2.3 percent from the same month last year to $650,000. The median price for condominiums remained the same as that of August 2013 at $350,000. According to the Days on Marketindicator, single-family homes were on the market for an average of only 15 days, while condominiums were on the market for an average of 23 days.

“August was an interesting month for the Oahu housing market,” said Julie Meier, president of the Honolulu Board of REALTORS®. “While on the surface it may look like this past August was not on par with last August for sales of single-family homes, the truth is that August 2013 was a banner month – the high point of sales for the year. It would have been very difficult to duplicate that this year. Still, this remains a very healthy market, as evidenced by the fact that the average single-family home was on the block for only 15 days before being sold. Also noteworthy is the fact that inventory of both single-family homes and condos is climbing, which will help the market meet demand.”

HOME SALES ON OAHU SEE HEALTHY RISE IN MAY, ACCORDING TO THE HONOLULU BOARD OF REALTORS®

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CaptureSales of single-family homes rose by 14.7 percent in May 2014, while condominium sales rose by 1.1 percent from May 2013. The median price paid for single-family homes in May increased by 8.3 percent from the same month last year to $682,000. The median price for condominiums increased by 12.7 percent from May of last year to $355,000. According to the Days on Market indicator, single-family homes were on the market for an average of 20 days, while condominiums were on the market for an average of 21 days.

“These robust numbers point to a very active market,” said Julie Meier, president of the Honolulu Board of REALTORS®. “Even though inventory has been increasing, it’s been outpaced by demand. People are snapping up properties as soon as they hit the market creating more demand and competition among buyers, which in turn raises prices. With median prices at a near all-time high and strong demand, we may see more homeowners putting their properties on the market.”

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, it is 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.)

One third of Oahu homes sold for more than asking price in 2013

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Jan 21, 2014, 1:42pm HST
Bill Cresenzo Reporter – Pacific Business News

One-third of single-family homes on Oahu sold for above their asking prices in 2013, setting a record for the island, according to a report.

The previous record was set in 2005, when bid-ups stood at 23 percent.

Around 20 percent of condominiums sold for prices higher than their listing prices.

For example, a home in Diamond Head sold for $2.51 million, when the asking price was $1.98 million. A condo in Waikiki’s Island Colony sold for $244,000 when the asking price was $199,000.

“Homes that sell for more than the listing price, or bid-ups, are the surest indicator that prices will continue to rise.”

The Honolulu Board of Realtors reported earlier this month that the median price of single-family home hit $685,000 in December, which tied with the record set in June 2007.

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

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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:

Single-Family Home Resales
Number of
Sales		This Month
Compared To		Median*
Sales Price		This Month
Compared To
April 2013280$625,000
April 2012217+29.0%$600,000+4.2%

 

Condominium Resales
Number of
Sales		This Month
Compared To		Median*
Sales Price		This Month
Compared To
April 2013
457$335,000
April 2012343+33.2%$319,000+5.0%

*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.)

MPR April 2013 Closed SalesMPR April 2013 Median Sales PriceMPR April 2013 Average Sales Price

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

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MARCH SALES AND MEDIAN PRICE INCREASE FOR BOTH 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 March. According to the analysis conducted by the Board, using data collected from its computerized Multiple Listing Service (MLS) system, the statistics are:

Single-Family Home Resales
Number of
Sales		This Month
Compared To		Median*
Sales Price		This Month
Compared To
March 2013231$640,000
March 2012222+4.1%$625,000+2.4%

 

Condominium Resales
Number of
Sales		This Month
Compared To		Median*
Sales Price		This Month
Compared To
March 2013
585$346,700
March 2012338+73.1%$311,750+11.2%

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

 

During March, sales of single-family homes and condominiums increased by 4.1 percent and 73.1 percent, respectively, from March 2012. The median price paid in March was $640,000 for single-family homes and $346,700 for condominiums, increases of 2.4 percent and 11.2 percent, respectively, compared to the same month last year. According to the Days on Market indicator, sales of both single-family homes and condominiums occurred at a faster pace last month compared to a year ago. Single-family homes were on the market for 22 days and condominiums for 15 days.

“Momentum is strong in the Honolulu market, with sales and median prices increasing for both singlefamily homes and condominiums,” said Kevin Miyama, president of the Honolulu Board of REALTORS®. “The March resale figures for condominiums were impacted by the presale of 174 units at Holomua – the majority of which listed between $299,000 and $400,000, indicating great demand for affordable housing. But even without those closed sales, the number of condo sales increased by an impressive 21.6% percent over last year.”

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.)

MPR March 2013 Closed SalesMPR March 2013 Median Sales PriceMPR March 2013 Average Sales Price

Oahu Real Estate Market Update – CONDOMINIUM SALES AND PRICES INCREASE IN FEBRUARY, ACCORDING TO THE HONOLULU BOARD OF REALTORS

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CONDOMINIUM SALES AND PRICES INCREASE IN FEBRUARY, ACCORDING TO THE HONOLULU BOARD OF REALTORS®

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

Single-Family Home Resales
Number of
Sales		This Month
Compared To		Median*
Sales Price		This Month
Compared To
February 2013201$600,000
February 2012217-7.4%$625,000-4.0%

 

Condominium Resales
Number of
Sales		This Month
Compared To		Median*
Sales Price		This Month
Compared To
February 2013
279$340,000
February 2012227+22.9%$315,000+7.9%

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

 

During February, sales of single-family homes decreased by 7.4 percent and condominiums increased by 22.9 percent from February 2012. The median price paid in February was $600,000 for single-family homes, a decrease of 4.0 percent, and $340,000 for condominiums, an increase of 7.9 percent, compared to the same month last year. According to the Days on Market indicator, sales of both single-family homes and condominiums occurred at a faster pace last month compared to a year ago, single-family homes were on the market for 25 days and condominiums for 34 days.

“These numbers aren’t all that surprising, given that February is typically a down month in Honolulu. We anticipate the numbers wills start to climb from now until July, which is the high point in the market,” said Kevin Miyama, president of the Honolulu Board of REALTORS®. “For single-family homes, we’re continuing to see limited inventory and fewer new listings. On the condo side, sales were quite good when you consider our inventory was down about 27 percent. Compared to single-family homes, we have more condos on the market, especially in the mid-price range.”

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.)

MPR February 2013 Closed SalesMPR February 2013 Median Sales PriceMPR February 2013 Average Sales Price

Oahu Real Estate Market Update – February 2013 – CONDOMINIUM SALES AND PRICES INCREASE IN FEBRUARY, ACCORDING TO THE HONOLULU BOARD OF REALTORS®

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CONDOMINIUM SALES AND PRICES INCREASE IN FEBRUARY, ACCORDING TO THE HONOLULU BOARD OF REALTORS®

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

Single-Family Home Resales
Number of
Sales		This Month
Compared To		Median*
Sales Price		This Month
Compared To
February 2013201$600,000
February 2012217-7.4%$625,000-4.0%

 

Condominium Resales
Number of
Sales		This Month
Compared To		Median*
Sales Price		This Month
Compared To
February 2013
279$340,000
February 2012227+22.9%$315,000+7.9%

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

 

During February, sales of single-family homes decreased by 7.4 percent and condominiums increased by 22.9 percent from February 2012. The median price paid in February was $600,000 for single-family homes, a decrease of 4.0 percent, and $340,000 for condominiums, an increase of 7.9 percent, compared to the same month last year. According to the Days on Market indicator, sales of both single-family homes and condominiums occurred at a faster pace last month compared to a year ago, single-family homes were on the market for 25 days and condominiums for 34 days.

“These numbers aren’t all that surprising, given that February is typically a down month in Honolulu. We anticipate the numbers wills start to climb from now until July, which is the high point in the market,” said Kevin Miyama, president of the Honolulu Board of REALTORS®. “For single-family homes, we’re continuing to see limited inventory and fewer new listings. On the condo side, sales were quite good when you consider our inventory was down about 27 percent. Compared to single-family homes, we have more condos on the market, especially in the mid-price range.”

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.)

MPR February 2013 Closed SalesMPR February 2013 Median Sales PriceMPR February 2013 Average Sales Price

Oahu Real Estate Market Update – January 2013 – SALES OF SINGLE-FAMILY HOMES AND CONDOMINIUMS INCREASE IN JANUARY

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FOR IMMEDIATE RELEASE
February 7, 2013MEDIA CONTACT:
Caroline Witherspoon
Becker Communications, Inc.
(808) 533-4165

SALES OF SINGLE-FAMILY HOMES AND CONDOMINIUMS INCREASE IN JANUARY, ACCORDING TO THE HONOLULU BOARD OF REALTORS®

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

Single-Family Home Resales
Number of
Sales		This Month
Compared To		Median*
Sales Price		This Month
Compared To
January 2013227$595,000
January 2012175+29.7%$618,900-3.9%

 

Condominium Resales
Number of
Sales		This Month
Compared To		Median*
Sales Price		This Month
Compared To
January 2013
286$315,000
January 2012270+5.9%$305,000+3.3%

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

Download January 2013 Press Release
Download January_Local Market Update_2013
Download January_Market Historical Stats_2013

During January, sales of single-family homes and condominiums increased by 29.7 percent and by 5.9 percent, respectively, from January 2012. The median price paid in January was $595,000 for singlefamily homes and $315,000 for condominiums, a decrease of 3.9 percent and an increase of 3.3 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 23 days and condominiums listing for 36 days.

“Overall, January’s numbers are good with sales of single-family homes and condominiums continuing to be strong,” said Kevin Miyama, president of the Honolulu Board of REALTORS®. “The median sales price for single-family homes dropped due to the higher volume of sales this year over last in the lower price ranges. This means there were fewer high priced homes sold compared to the mid- and low-priced, which bumped the median price down, due to the high number of first time homebuyers getting into the market. There is a lot of activity in the market and we’re optimistic low interest rates and reasonable prices will continue to fuel the positive trend we’ve been seeing these past few 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.)

December 2012 Residential Resales Statistics – During December, sales of single-family homes and condominiums increased by 8.6 percent and by 20.4 percent, respectively, from December 2011

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MSRCover_2007.inddDuring 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.”

Download December Press Release

Use the following form to contact us about a custom market report for your neighborhood

[contact-form subject=’Market Information’][contact-field label=’Name’ type=’name’ required=’1’/][contact-field label=’Email’ type=’email’ required=’1’/][contact-field label=’Website’ type=’url’/][contact-field label=’Comment’ type=’textarea’ required=’1’/][/contact-form]

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.)

September 2012 Residential Resales Statistics – “There is less inventory now than a year ago, so homes are selling faster”

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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.”

Download September Market Press Release

Download September Local Area Market Report

 

Use the following form to contact us about a custom market report for your neighborhood

[contact-form subject=’Market Information’][contact-field label=’Name’ type=’name’ required=’1’/][contact-field label=’Email’ type=’email’ required=’1’/][contact-field label=’Website’ type=’url’/][contact-field label=’Comment’ type=’textarea’ required=’1’/][/contact-form]

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 5,600 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.)