The stats are in from the Honolulu Board of Realtors MLS. Single family home prices showed a bump in February 2007. Condo prices remain at the same level as the previous month. Honolulu County makes up the entire island of Oahu.
2/07 Median Price 2/07 Average Days on Market
- Single Family Homes $614,500 (up from 1/07) 70
- Condos/ Townhouses $320,000 (same as 1/07) 59
The median price for single family homes had peaked in May 2006 and have bounced up and down each month since. The condo and townhouse median price high was reached in July 2006 at 329,000. They have since flattened out, with the $320,000 mark being hit the last couple of months.
Metropolitan Honolulu showed increases in price and volume of sales for condos while other parts of the island showed some decreasing prices and volume.
Our current inventory levels showed 6.5 months for Single Family Homes and 5.5 months for Condo/ Townhouses.
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