In the month of December 2016, Condominium sales rose by 23.8 percent and sales of single-family homes rose by 14.8 percent. The median price for condos increased by one percent to $390,000 and the median price paid for single-family homes in December 2016 increased by 4.3 percent from the same month last year to $730,000. The median days on market for both single-family homes and condominiums was 18.
“December is typically a slower month for home buying, but that wasn’t the case in 2016 and home sales ended the year on a strong note with double-digit increases for both single-family homes and condos,” said Kalama Kim, Honolulu Board of Realtors 2016 President. “While inventory remained relatively flat from last year, we’re encouraged by the increases in pending sales for both categories with single-family homes up more than 15 percent and condos at just over 20 percent. Those should lead to strong sales figures in next few months once the transactions close.”
Hau'oli Makahiki Hou!