Oahu (Honolulu County) Residential Real Estate Sales - Sept. 2014

By
Managing Real Estate Broker with eXp Realty RB-19250

Below is the sales activity for the month of September 2014 compared to the same month last year.  This covers resale homes for Honolulu County (Oahu) and does not include new construction homes. 

  

                                              Honolulu

 

 

Single Family Home sales volume is still strong, in previous months volume was less, but prices were up from last year.  In September we saw volume up a little from last year at this time, but prices flattening out. The average price is up while the median price is close to the same.  That means more higher priced homes were sold this year compared to last.  We continue to struggle with a low number of available homes for sale.  Low interest rates are keeping buyers engaged and with the Fed predicting to begin to raise interest rates early next year, look for both buyers and sellers to get motivated to take advantage of this window of opportunity.

 

Condos and townhouses are seeing similar patterns as single family homes.  There is a slight dip in both volume and median price.  Average price is up meaning more of the higher priced condos are selling.

 

On Oahu, there is an overall shortage of housing units.  If market conditions remain constant, we expect price increases to resume again island wide.  They are already increasing in some parts of the island.  Also it has been reported that the number of building permits for new construction issued since the beginning of the year is down by a huge amount.  The lack of new homes being built will add to the tight inventory.

 

 

Single-Family Resale Homes              

                                  # Sales                        Median Price    Average Price

September 2014       318                                $678,500         $865,924

September 2013       303                                $675,000         $828,000    

Condos/ Townhouse Resale Units

                                   # Sales                      Median Price    Average Price

September 2014        415                               $347,000         $421,721

September 2013        421                               $348,000         $397,798

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*Median price means half the prices were above and half below the given price.  For additional stats, please contact me.  Data was taken from the Honolulu Board of REALTORS® MLS system.  It is deemed to be accurate, but not guaranteed.

 

Contact me anytime for updated numbers for your individual community.

Posted by

 

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Randy L. Prothero, REALTOR®

Broker-in-Charge, ABR, AHWD, CRB, CRS, e-PRO, GRI, MRP, SFR

eXp Realty

Team Leader - "The Prothero Group"

Randy Prothero is well established as an expert in working with military / VA clients and first time home buyers.  His home seller's (listing) campaign is one of the most aggressive marketing programs in the area.  His luxury home listings sell faster and for more money.

Based out of Mililani, Hawaii. Randy services the island of Oahu (Honolulu County) Performs mediations and ombudsman services for the Board of Realtors.  To improve overall professionalism in his area Randy also offers classes for real estate agents. 

www.HawaiiRandy.comOahu (Honolulu County) Property Search  Hawaii Military Relocations

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Rainmaker
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Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

Nice review of the residential stats, Randy. Our condos have really shot up in sales lately on Kauai.

Oct 19, 2014 11:53 AM #1
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Rainmaker
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Randy Prothero

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