Honolulu Board of Realtors Market Update November 2015
Honolulu Board of Realtors Market Update November 2015
HONOLULU CONDOS HIT RECORD MEDIAN PRICE IN JANUARY, ACCORDING TO HONOLULU BOARD OF REALTORS®
HONOLULU — The Honolulu Board of REALTORS® released resale figures today for the month of January 2015. According to the analysis conducted by the Board, using data collected from its computerized Multiple Listing Service (MLS) system, the statistics are:
During January 2015, sales of single-family homes decreased by 14.6 percent from January 2014, while condominium sales decreased by 7.7 percent compared to January 2014. The median price paid for single-family homes in January 2015 increased by 7.2 percent from the same month last year to $675,000
The median price for condominiums increased by 19.2 percent from January 2014 to $381,500, which marks an all-time high for that figure. The previous record for condominium median price was $361,250, set in December 2014. According to the Days on Market indicator, single-family homes were on the market for an average of 26 days, while condominiums were on the market for an average of 27 days.
“This is traditionally one of the slowest months of the year, so the sluggish sales of single family homes and, to a lesser extent, condos, is not too surprising,” said Jack Legal, president of the Honolulu Board of REALTORS®. “However, what’s notable is the jump in median sales price, including a new record set for condominiums. This indicates demand for housing is still very high, and the one factor that is putting a damper on the market is, as usual, the lack of inventory, especially for single family homes.” The public is encouraged to visit www.hicentral.com to see what’s happening in the housing market.
Established in 1922, the Honolulu Board of REALTORS® is one of the largest of 1,500 boards of REALTORS® in the nation, and, with more than 5,500 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.)
O’ahu 7 Year and 2014 Median Condo / Home Sales
Honolulu’s home price appreciation among nation’s highest
Honolulu has one of the highest home price appreciation rates in the country, real estate data tracking service RealtyTrac said.
The median price of a home, which includes condominiums, was $480,000 in October, giving Honolulu an annual Home Price Appreciation rate of 10 percent, RealtyTrac says.
The top market for HPA is the Toledo, Ohio market, where the median price of a home is $100,000 and the HPA rate is 33 percent.
Nationally, the median price of a home was $193,000 in October, an increase of 16 percent over October 2013.
Oahu home, condo prices rise 8% in October
Homes in Hawaii Loa Ridge are seen in this file photo. The number of sales of single-family homes rose 2.8 percent in October, according to the Honolulu Board of Realtors.
The median price of a single-family home on Oahu rose 7.8 percent in October on a modest gain in sales, while condominium prices rose 8.5 percent, according to figures released Friday by the Honolulu Board of Realtors.
The median price of a single-family home on Oahu last month was $690,000, compared to $640,000 in October 2013, while the number of sales rose 2.8 percent to 298 homes sold from 290 homes sold during the same month last year.
The median price of an Oahu condominium in October was $352,750, compared to $325,000 in October 2013. Sales of condos rose 6.9 percent last month to 448 units sold from 419 units sold in October 2013.
The median price of both single-family homes and condominiums hit a record in June, when the median prices hit $700,000 and $363,000, respectively.
Bill Cresenzo Reporter – Pacific Business News
Oahu single-family home price hits record $700k
Home prices on Oahu set records in June, with the median price of a single-family home cracking the $700,000 mark for the first time despite lower sales, according to statistics released Monday by the Honolulu Board of Realtors.
The median price of $700,000 for a single-family home on Oahu was 3.4 percent higher than the median price of $677,250 set in June 2013, and 2 percent higher than the previous record of $685,000 set in December.
The median price of a condominium also reached a record in June, $360,000, which was 9.1 percent higher than the median price in June 2013, which was $330,000, and just $1,000 higher than the previous record of $359,000 set in February.
“June was a remarkable month, both single family homes and condominiums shattered the previous records for median sales price,” Julie Meier, president of the Honolulu Board of Realtors. “This shows the very strong demand we’re currently seeing for housing.”
Condo sales increased by 4.8 percent in June to 411 units sold, from 392 sold during the same month last year, but sales of single-family homes declined 1.6 percent to 303, from 308 sales in June 2013.
“That demand, coupled with low inventory, is what’s causing the continued growth in median sales prices,” Meier said. We do see inventory rising, but not enough to offset the demand, especially for single-family homes.”
Staff Pacific Business News
Oahu single-family home price in December ties previous record
Bill Cresenzo Reporter – Pacific Business News
The median price of a single-family home on Oahu in December tied the previous record of $685,000 set in 2007, according to data from the Honolulu Board of Realtors.
The median price of a single-family home in Honolulu in December tied its previous record of $685,000 set in July 2007, according to figures released Tuesday by the Honolulu Board of Realtors.
The figure represents a 14.2-percent increase from the $600,000 median price tag that home buyers paid in December 2012.
December also saw a dip in sales to 293 single-family homes sold, from 291 in December 2012.
“That is pretty typical for this time of the year,” said Julie Meier, president of the board of realtors. “We want to keep our eyes on the median sales price, especially for single-family homes, given that this month’s medianprice ties the market’s highest peak at $685,000.”
The median price of a condominium was $330,000, a 1.5 percent decline from $335,000 during the same month last year.
Single family homes, on average, were on the market for 22 days, while condos were on the market for 27 days.
For all of 2013, condo sales increased 11.8 percent to 4,874 units sold, from 4,361 units sold during all of 2012. The median price of a condo rose 4.6 percent to $332,000 in 2013 from $317,500 in 2012.
The median price of a single-family home for all of 2013 rose 4.8 percent in 2013 to $650,000 from $620,000 in 2012. Sales of single-family homes rose 4.6 percent to 3,312 homes sold, from 3,166 homes sold in 2012.
HONOLULU HOME AND CONDOMINIUM SALES REMAIN STABLE, ACCORDING TO THE HONOLULU BOARD OF REALTORS
HONOLULU — The Honolulu Board of REALTORS® released resale figures today for the month of October. According to the analysis conducted by the Board, using data collected from its computerized Multiple Listing Service (MLS) system, the statistics are:
| Number of Sales | This Month Compared To | Median* Sales Price | This Month Compared To | |
| October 2013 | 290 | $640,000 | ||
| October 2012 | 282 | +2.8% | $625,000 | +2.4% |
| Number of Sales | This Month Compared To | Median* Sales Price | This Month Compared To | |
| October 2013 | 419 | $325,000 | ||
| October 2012 | 425 | -1.4% | $325,000 | 0% |
*Median price means half the prices were above and half below the given price.
During October, sales of single-family homes increased by 2.4 percent and condominiums decreased by 1.4 percent from October 2012. The median price paid for single-family homes in October increased 2.4 percent from the same month last year to $640,000. The median price for condominiums was flat from October of last year at $325,000. According to the Days on Market indicator, single-family homes were on the market for an average of 22 days and condominiums for 19 days.
“October was relatively flat for both sales and the median price of single-family homes and condominiums, which is typical of this time of year,” said Kevin Miyama, president of the Honolulu Board of REALTORS®. “Of note, median days on market have flattened out the past five months, and the number of new listings is increasing, so we’re slowly adding into inventory.”
Download the November 2013 Report Here
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.)
Home prices rise on Oahu, condo sales soar 20%
Oct 7, 2013, 7:25am HST Updated: Oct 9, 2013, 1:48pm HST
Janis L. Magin | Managing Editor- Pacific Business News
Home prices on Oahu rose last month, as the median price for single-family homes and condominiums moved within striking distance of breaking previous records, according to statistics released Monday by the Honolulu Board of Realtors.
The median price of a single-family home on Oahu rose to $675,000 in September, according to the Honolulu Board of Realtors.
The median price of a single-family home in September was $675,000, a 6 percent increase from $637,000 in September of last year, and closer to the record, for any month, of $685,000 set in June 2007. That price was based on sales of 303 homes, which was virtually unchanged from the 304 home sold during the same month.
The number of condo units sold, however, jumped 20 percent to 421 units sold last month, compared to 350 units sold in September 2012.
The median price of a condominium on Oahu in September was $348,000, which was 8.9 percent higher than the median price of $319,500 set during the same month last year. It was also very close to the record $350,000 set in August, and 4 percent higher than the record of $334,000 set in June 2007.
“While it was a relatively positive month for Honolulu’s residential market, we are seeing the effects of low inventory,” said Kevin Miyama, president of the Honolulu Board of Realtors. “Potential sellers interested in listing their properties should consider taking advantage of current market conditions, especially if they are interested in buying-up before interest rates rise, which is expected to happen in 2014.”
Oahu home sales, prices rise in July
Aug 7, 2013, 5:58am HST Updated: Aug 7, 2013, 7:27am HST
Duane Shimogawa | Reporter- Pacific Business News
The Oahu housing market remained positive in July, especially with it came to the number of sales for both single-family homes and condominiums, according to statistics released Wednesday by the Honolulu Board of Realtors.
The median price of a condominium on Oahu in July rose 8 percent year-over-year to $345,500, according to the Honolulu Board of Realtors.
There were 290 home sales last month, a 9 percent increase from 265 sales in July 2012. The median sale price of a home last month was $647,500, which was 2 percent higher than the median price of $635,000 during the same time period last year.
Condo sales soared 17 percent last month to 426 sales, compared to 364 sales in July 2012.
The median sales price of a condo in July was $345,500, an increase of 8 percent from $320,000 in July 2012.
“Realtors are reporting that properties are selling quickly, making it more important than ever for buyers to be prepared by being pre-qualified for a loan, so when they are ready to make a purchase — they can act fast,” Honolulu Board of Realtors President Kevin Miyama said in a statement. “With the median sales prices rising compared to this time last year, especially for condominiums, on-the-fence sellers should consider listing their properties now to take advantage of the shortage of inventory on the market.”
Single-family homes were on the market for an average of 17 days and condos for 20 days, according to the days on market indicator.
While the market remains hot, it wasn’t as active and prolific as in June, when the Oahu housing market hit a new high with the highest median sales price — $677,250 — for single-family homes in more than five years.
