| Released: Monday, December 3, 2007 HONOLULU - The Honolulu Board of REALTORS® released resale figures for the month of November today. According to the analysis conducted by the Board, using data collected from its computerized Multiple Listing Service (MLS) system, the statistics are: | November 2007 Residential Resales Statistics for Oahu
Single Family Home Resales | | | Number of
Sales | This Month
Compared To | | Median*
Sales Price | This Month
Compared To | | November, 2007 | 245 | | | $ 610,000 | | | October, 2007 | | | | $ 655,000 | dn 6.9% | | November, 2006 | 293 | dn 16.4% | | $ 610,000 | No Change |
Condominium Resales | | | Number of
Sales | This Month
Compared To | | Median*
Sales Price | This Month
Compared To | | November, 2007 | 379 | | | $315,000 | | | October, 2007 | | | | $322,500 | dn 2.3% | | November, 2006 | 421 | dn 10.0% | | $310,000 | up 1.6% | | | | *Median price means half the prices were above and half below the given price. |
During November, sales of 245 single-family homes and 379 condominiums were reported through the Board's MLS, a decrease of 16.4 percent for single-family homes and 10.0 percent for condominiums, compared to the same month last year. This brings total single-family home sales on Oahu to 3,387 for the first eleven months of 2007, a decrease of 8.3 percent over the same time period one year ago. Total condominium sales through October were 5,146, a 13.1 percent decrease from last year. The year-to-date median prices paid for Oahu properties in the first eleven months this year were $645,000 and $325,000, respectively, increases of 2.4 percent and 4.8 percent over the 2006 prices of $630,000 and $310,000. The total dollar sales volume generated in the housing market for the first eleven months of the year was $4.650 billion, a decrease of 7.5 percent or $376 million, compared to the $5.026 billion produced one year ago.
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