Hawaii (Oahu) July Real Estate Update - Median $665,000 Single Family !!

By
Real Estate Agent

2007 Second Quarter Residential Resales Statistics for Oahu

Single Family Home Resales

Number of
Sales
This Quarter
Compared To
Median*
Sales Price
This Quarter
Compared To
2nd Quarter, 20071,037 $665,000
1st Quarter, 2007$620,000 up 7.3%
2nd Quarter, 20061,074 dn 3.4% $640,000 up 3.9%

Condominium Resales
Number of
Sales
This Quarter
Compared To
Median*
Sales Price
This Quarter
Compared To
2nd Quarter, 20071,617 $328,000
1st Quarter, 2007$320,000 up 2.5%
2nd Quarter, 20061,830 dn 11.6% $305,000 up 7.5%

*Median price means half the prices were above and half below the given price.

During the second quarter, the number of sales declined from last year, but the median prices increased. The total dollar volume of sales was $1.455 billion in the second quarter, a decrease of just $14 million, or 0.9%, from the $1.469 billion in sales achieved in the same quarter last year.

The Median Prices shown in the chart below are the prices paid for existing residential properties reported sold through our Multiple Listing Service (MLS) system during the stated time period. The columns labeled Change indicate the direction of price change from the prior time period (NC is no change). The following table provides the quarterly median prices for the Oahu neighborhood groups.

GEOGRAPHIC AREASINGLE FAMILY HOMESChangeCONDOMINIUMSChange
Entire Island$ 665,000Up Arrow$ 328,000Down Arrow
 
Metro Oahu (Town)$ 736,500Up Arrow$ 320,000Up Arrow
Diamond Head$ 1,025,000Up Arrow$ 504,500Up Arrow
Hawaii Kai$ 910,000Up Arrow$ 546,500Up Arrow
Kailua$ 850,000Up Arrow$ 491,000Down Arrow
Kaneohe$ 735,000Up Arrow$ 394,000Up Arrow
North Shore$ 902,500Down Arrow$ 407,500Up Arrow
Central Oahu$ 595,000Up Arrow$ 305,000Up Arrow
Leeward Coast$ 375,000NC$ 191,000Up Arrow
Ewa Plain$ 510,000Up Arrow$ 294,900Down Arrow
Makakilo$ 612,000Up Arrow$ 305,000Up Arrow
Waipahu$ 575,000Up Arrow$ 300,500Down Arrow
Pearl City$ 634,000Up Arrow$ 299,000Up Arrow

Median Sales Price means the midpoint of sales prices, where half of the sales were at prices above the given amount and half were below.

Comments (0)