This wasn’t the blazing hot sales summer we were hoping for – Aug 2012 posted the same number of sales as did Aug 2011 which was 69, however for year to date, we have 578 sales compared to 519 sales for year to date last Aug. Residential sales saw a decrease in sales for Aug, down from 32 in 2011 to 25 this Aug. while land went from 7 to 9 sales and condos from 29 to 32 sales. The monthly statistic is an increase over past Augusts which only had 64 sales in 10, 44 in 09, 42 in 08 and was even higher than 07 which has typically posted high numbers, with only 65. Year to date in 07 tells a different story, however, with 680 sales posted at that time.
Sales volume is up from $29M in Aug 11 to $40M for Aug 12. For residential, sales volume went from $17M to $15M based on 32 sales for Aug 11 compared to 25 for this August. Land saw a huge jump, going from $1.4M in Aug 11 to $8.2M in Aug 12. Condos stayed pretty steady with $9M sold Aug 11 compared to $11M this Aug. This is based on 29 sales in Aug 11 compared to 32 for Aug 12. Year to date we are at $321M compared to $272M for last year this time. Only 08 and 09 year to date had more volume, with $365M for 08 and a whopping $586M for 09. Oh for the good old days!
Median sales prices were higher across the board. Residential went from $447,500 for Aug 11 to $460K for Aug 12; land went from $200K to $339K while condos went from $262K to $312,500. Year to date tells a slightly different story with homes coming in at $450K for year to date 11 while this year shows at $435K. Land is down from $285K to $270K year to date while condos posted an increase going from $222,500 to $292K. While these are median and not average prices, it is interesting to note that in Aug 07 the median for residential was at $624,500, land was at $500K and condos were at $587K. Always fun to look at the numbers.
If you want to see the full statistical report, you’ll find it here on my website where I post it each month.
Elaine Schaefer (R, CRS, GRI, ABR, SFR)
Broker in Charge – Princeville Resort Office
Certified Residential Specialist
Graduate, Realtor’s Institute
Accredited Buyer’s Representative
Short Sale and Foreclosure Resource Certification
Top Producer 100% Club
Princeville Resort Office
Princeville, HI 96722
cell: 808 639 2935
home fax: 1 808 440 4552
……Making your real estate dreams