Oahu Real Estate Market Activity for February and Year-to-Date

By
Real Estate Agent with East Oahu Realty

The real estate market on Oahu posted very positive numbers for the month of February.

Closed Sales, all properties, increased 13.1%
Closed Sales, single family homes, increased 2.3%
Closed Sales, condos, increased 20.9%

Single Family Market Overview, February 2010 to February, 2011
Closed Sales rose 2.3%, from 177 to 181
Days on Market increased 52.6%, from 38 to 58
Median Sales Price decreased 1%, from $575,500 to $570,000
Average Sales Price increased 2%, from $685,249 to $699,034
Housing Affordability Index rose 4.6%, from 65 to 67
Inventory of Homes decreased 9.7%, from 1545 to 1,395
Months Supply of Homes for Sale decreased 16.9%, from 6.5 months to 5.4

Single Family Market Overview, Year-to-Date 2010 to 2011
Closed Sales rose 7.0%, from 356 to 381
Days on Market increased 13.6%, from 41 to 46
Median Sales Price decreased 1.7%, from $580,000 to $570,000
Average Sales Price increased 2.3%, from $683,211 to $699,026
Housing Affordability Index rose 4.6%, from 65 to 67

Condo Market Overview, February 2010 to February, 2011
Closed Sales rose 20.9%, from 244 to 295
Days on Market increased 13.7%, from 51 to 58
Median Sales Price increased 7%, from $299,000 to $320,000
Average Sales Price increased 10.2%, from $356,520 to $392,714
Housing Affordability Index fell 2.5%, from 118 to 115
Inventory of Condos decreased 4.1%, from 2,014 to 1,931
Months Supply of Condos for Sale decreased 10.3%, from 6.3 months to 5.7

Condo Market Overview, Year-to-Date 2010 to 2011
Closed Sales rose 16.0%, from 486 to 564
Days on Market increased 33.8%, from 40 to 54
Median Sales Price increased 2.8%, from $299,000 to $307,500
Average Sales Price increased 1.9%, from $349,407 to $356,210
Housing Affordability Index fell 2.5%, from 118 to 15

A graph provided by the Honolulu Board of Realtors shows a steady increase in sales for the past 3 years, both in February and year-to-date, and for both single family homes and condos.  Let me know if you would like a complete copy of the thorough statistical analysis of our Oahu real estate market.  I can email you a .pdf file with charts and graphs.

For local knowledge, and sales in specific communities, call or email me.  Oahu's real estate market is quite varied, from the water-centric homes of Hawaii Kai, to old Hawaiian historic homes in Manoa, to the new 2nd city of Kapolei.  I'll be happy to do a market analysis of any area on Oahu for you.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
Hawaii Honolulu County
Groups:
Condo Benefits
Tags:
honolulu real estate
oahu real estate market report
honolulu market report

Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
57,745

Barbara Abe

Ask me a question
*
*
*
*
Spam prevention

Additional Information