During December, sales of 268 single-family homes and 333 condominiums were reported through the Board’s MLS, a decrease of 14.1 percent for single-family homes and a decrease of 6.5 percent for condominiums, compared to the same month last year. This brings total single-family home sales on Oahu to 2,974 for the year of 2011, a decrease of 2.7 percent over one year ago. Total condominium sales through December were 4,029, a 1.3 percent increase from last year. The median price paid for island properties in the year of 2011 was $605,000 for single-family homes and $285,000 for condominiums, an increase of 3.4 percent and a decrease of 6.5 percent, respectively, from December 2010. According to the Days on Market indicator, single-family home sales closed at a faster pace last month compared to December 2010 listing for 35 days, down from 38. Condominiums closed at a slower pace last month compared to December 2010 listing for 52 days, up from 43.

“Although home and condominium sales for December 2011 took a small dip compared to last year, we are seeing prices rise for single-family homes,” said Joe Paikai, newly-elected President of the Honolulu Board of REALTORS®. “We’ve also noticed that particular neighborhoods have made significant jumps in sales compared to last year. This is a good sign for Honolulu as a whole; we expect to see this rise in sales spread as the economy continues to recover.”

(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.)

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During November, sales of 251 single-family homes and 333 condominiums were reported through the Board’s MLS, increases of 1.2 percent and 5.4 percent, respectively, for single-family homes and condominiums from November 2010. The median price paid for island properties in November was $580,000 for single-family homes and $295,000 for condominiums, an increase of 1 percent for singlefamily homes and a decrease of 5.4 percent for condominiums compared to the same month last year.

According to the Days on Market indicator, sales of single-family homes and condominiums closed at a faster pace last month compared to a year ago, with homes listing for 35 days and  condominiums listing for 42 days.

“We are pleased to see that sales of both single-family homes and condominiums have increased
compared to last year. In fact, this is the fourth month in a row that condominium sales have been up, as buyers take advantage of lower prices and quicker deals and the inventory clears out,” said Joyce Nakamura, President of the Honolulu Board of REALTORS®. “This is pretty positive news given that November is historically one of the slowest months for real estate sales."

(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.)

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Hawaiian Americana Realty, Inc | Mark Howard – Owner/ Broker/Founder – RB 20384
1888 Kalakaua Ave., C312
Honolulu, HI 96815
Phone 808-791-2923

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.”

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During May, sales of 243 single-family homes and 330 condominiums were reported through the Board’s MLS, decreases of 15.3 percent and 10.3 percent, respectively, for single-family homes and condominiums from May 2010.

The median price paid for island properties in May was $595,000 for single-family homes and $290,000 for condominiums, decreases of 0.8 percent for single-family homes and 4.9 percent for condominiums, compared to the same month last year.

According to the Days on Market indicator, sales closed at a slower pace last month compared to a year ago with single-family homes listing for 31 days up from 27 and condominiums listing for 36 days up from 28.

“While median prices in comparable Mainland markets have dropped significantly, Honolulu’s prices have been holding up relatively well,” said Joyce Nakamura, President of the Honolulu Board of REALTORS®. “Moreover, pending sales for both single-family home and condominiums are significantly up from last year, which demonstrates the continued demand for island properties.”

Download 2011_May_HBR_MarketReport

During April, sales of 229 single-family homes and 379 condominiums were reported through the Board’s MLS, decreases of 19.6 percent and 6.7 percent, respectively, for single-family homes and condominiums from April 2010. The median price paid for island properties in April was $585,000 for single-family homes and $305,000 for condominiums, an increase of 3.5 percent for single-family homes and a 0.7 percent decrease for condominiums, compared to the same month last year. According to the Days on Market indicator, sales closed at a slower pace last month compared to a year ago with singlefamily homes listing for 34 days up from 26 and condominiums listing for 34 days up from 24.

“Median prices are holding pretty firm in the current Oahu housing market, at $585,000 and $305,000, in April,” sad Joyce Nakamura, President of the Honolulu Board of REALTORS®. “April’s data shows that there is enough demand, albeit lower than last year, to maintain our residential price levels. We continue to experience a stable environment for both buyers and sellers.”

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.

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