March, 2008 Condos Prices Up & Homes Down

By
Real Estate Agent with Harcourts Island Properties RB-20368

The latest stats are out from the Honolulu Board of Realtors for March, summarized as follows:

There were 282 Single Family Homes sales in March of 2008 vs. 330 in 2007 for a 14.5% decline in number of sales.  The median sales price last month for a Home was $628,000 vs. $643,500 in 2007 for a 2.4% decline.

There were 392 Condo sales in March of 2008 vs. 541 in 2007 for a 27.5% declilne in number of sales.  The median sales price for a condo was $329,000 vs. $321,000 in 2007, which was a 2.6% increase.

Bad news= number of sales down drastically (not good for Realtors)

Good news= prices have held well relative to rest of the United States (good for homeowners)

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Tags:
homes
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condos
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David Buck

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