Honolulu Homes and Condos Sales Market Stats September 2016

Honolulu Homes Sales Stats September 2016

During September 2016, single-family homes sales were flat compared to September 2015, while condominium sales increased by 6.7 percent compared to September 2015.

The median price paid for single-family homes in September 2016 increased by 2.7 percent from the same month last year to $750,000. The median price for condominiums increased by 4.7 percent from September 2015 to $383,250.

According to the Days on Market indicator, the median days on market for single-family homes and condominiums was 16 and 20, respectively.

"Oahu’s housing resale market in September indicates that there was no slowdown in demand as the summer came to an end,” said Kalama Kim, 2016 Honolulu Board of REALTORS® President.

“While single-family home sales were flat compared to last year, the median days on market of just 16 days show homebuyers are still aggressively seeking opportunities. Another indication that demand is still strong are the pending sales figures, which show increases of nearly nine percent for single-family homes and 14 percent for condominiums, compared to last year. We are concerned about a drop in active listings for both single-family homes and condominiums during September, as more inventory is needed to satisfy the demand for housing, which has been the case for some time."

Honolulu Real Estate Market Stats July 2016

Honolulu Real Estate Market Stats July 2016

“While sales of both single-family homes and condos dipped compared to the previous year, the increase in prices year-over-year for both indicates the housing market is still very strong,” said Kalama Kim, 2016 president of the Honolulu Board of REALTORS®.

“The drop in condo sales is typical of the cyclical nature of the real estate market. Historically, we’ve seen a peak in condo resales during the summer, followed by a slight dip the following month.

As for prices, a decrease in the number of sales with a corresponding increase in prices usually means buyers are being more aggressive with their offers.”

Honolulu Real Estate Market Stats June 2016

Honolulu Home Sales June 2016

During June 2016, sales of single-family homes were flat compared to June 2015, while condominium sales increased by 9.8 percent compared to June 2015. The median price paid for single-family homes in June 2016 increased by 8.6 percent from the same month last year to $760,000. The median price for condominiums increased by 19.6 percent from June 2015 to $405,500. This represents new record highs in median price for both single-family homes and condominiums. According to the Days on Market indicator, the median days on market for single-family homes was 14 days, and 20 days for condominiums.

“The demand for single-family homes was especially high in June with the median days on market setting a record pace at just 14 days,” said Kalama Kim, 2016 president of the Honolulu Board of REALTORS®. “Both single-family homes and condos surpassed the previous high marks for monthly median prices. However, a closer analysis of these figures shows that the median price for single-family homes was skewed a bit by the sale of 20 properties for $2 million or more. Affordable homes are still available, as 124 of the properties sold were for under $700,000. As for condos, 267 units were sold for under $400,000. Despite rising prices and increased competition for properties, we continue to recommend that potential homebuyers should consider widening their search for housing that best meets their needs and budget.”

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Honolulu Real Estate Market Stats May 2016

slow but steady growth

During May 2016, sales of single-family homes increased by 3.2 percent compared to May 2015, while condominium sales increased by 6.0 percent compared to May 2015.

The median price paid for single- family homes in May 2016 increased by 3.0 percent from the same month last year to $719,000.

The median price for condominiums decreased by 0.5 percent from May 2015 to $373,000. According to the Days on Market indicator, the median days on market for single-family homes and condominiums was 17 and 15, respectively.