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Oahu (Honolulu County) - Sales of Existing Homes & Condominiums for May 2008

The May 2008 numbers are in.

Single Family Home Sales volume is down from the period last year, but median prices are making a rebound. Prices at the 2007 levels.

Condominium Sales had a similar drop in volume while the median price has shown a modest increase.

With interest rates still holding, buyers should see it a good time to take advantage of the market conditions in most areas.

For the Month of May 2008

OAHU SINGLE FAMILY HOME RESALES
	Number of Sales	This Month Compared to	Median Sales Price	This Month Compared to
May 2008	252		$649,500
April 2008	256		$639,000	+1.6%
May 2007	357	-29.4%	$650,000	-0.1%

OAHU CONDOMINUM RESALES
	Number of Sales	This Month Compared to	Median Sales Price	This Month Compared to
May 2008	382		$337,300
April 2008	384		$327,000	+3.1%
May 2007	543	-29.7%	$325,000	+3.8%

*These numbers were taken from the Honolulu Board of Realtors MLS system and Old Republic Title. They are deemed to be accurate, but not guaranteed.

You can find out more about real estate in Hawaii at: www.HawaiiRandy.com

Posted by Randy L. Prothero - Hawaii REALTOR® on 06/23/2008 03:56 PM

Comments (4)

real estate market reports, oahu, honolulu county

This post has been included in Hawaii Information Honolulu County, HI Information
Post is included in group: Market Updates

4 Comments on Oahu (Honolulu County) - Sales of Existing Homes & Condominiums for May 2008

Randy looks like the number of sales are way off, but the median price is holding very nicely.

Like the picture. I never think of Hawaii as a City, I always seem to picture it as one big beach with lots of pineapples .......... LOL

06/23/2008 06:45 PM

by George Souto (McCue Mortgage Co.)

George - Sales volume is definitely down. The supply has stayed consistant with the demand in most areas. You would not know that from reading hte newspaper.

06/23/2008 08:47 PM

by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)

Randy.....is this the time of year sales go down and what would be the cause?

06/23/2008 11:40 PM

by Pam Winterbauer ~ 2006 REALTOR® of the Year (Windermere Welcome Home)

This is our busier time of year. We had record volume the previous years. We are just in a more normal market. Prices have held though.

06/24/2008 12:11 AM

by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)

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Real Estate Agent: Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)

Randy L. Prothero - Hawaii REALTOR®
Mililani, HI
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