Oahu Housing Sales Slow in November

By
Real Estate Agent with HI Pro Realty LLC RB-21531 RS-76763
https://activerain.com/droplet/5gtf

 

Oahu Median Home Prices November 2018

 

Oahu Housing Sales Slow in November

 

November sales of single-family homes and condominiums were slower in 2018 than the previous year according to resales figures released today by the Honolulu Board of REALTORS®. The analysis conducted by the Board, using data collected from its computerized Multiple Listing Service (MLS) system, offer the following statistics:

 

Single-Family Home Resales

  Number of Sales  Median Sales Price
November 2018   288  $797,000  
November 2017   332  -13.3% $773,500  +3%

 

Condominium Resales

  Number of Sales  Median Sales Price
November 2018   429  $420,000  
November 2017   501 -14.4% $497,500  +3.7%

 

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

**Condominiums also includes townhomes.

 

The sales of 288 single-family homes and 429 condominiums represent decreases of 13.3 percent and 14.4 percent, respectively, compared to November 2017. The median price paid for a single-family home increased by 3 percent to $797,000 and the median price for a condominium increased by 3.7 percent to $420,000. According to the Days on Market indicator, the median days for single-family homes was 28 and 22 days for condominiums. 

 

 “Sales in Oahu’s residential housing market continue to normalize, with the welcomed increase in inventory in the traditionally slower last quarter of the year,” said Darryl Macha, president of the Honolulu Board of REALTORS®. “We’ve seen considerable inventory expansion this year with active listings of single-family homes up by more than 28 percent and condominiums up by 14 percent compared to the same time last year. However, more than half of the inventory of single-family homes was priced above $800,000 and nearly half of the condominium inventory was priced above $475,000, so more inventory in the lower price ranges is still needed. Though when you consider the overall conditions including more selection, continued low mortgage rates, and a stable economy, it’s a favorable time for buyers to purchase a home.”

 

 

For Expert Sales and Pet Friendly

Property Management in Honolulu, Hawaii

CONTACT HI Pro Realty TODAY

 

 

 

 

 

Posted by

 HI Pro Realty - PET FRIENDLY HONOLULU REALTOR, PROPERTY MANAGEMENT

 

HI Pro Realty LLC - REALTORS®, PROPERTY MANAGERS® is a boutique brokerage firm offering responsive, dedicated, and professional Real Estate Sales and Management Services in Honolulu, Hawaii. 

 

 

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Rainmaker
3,160,266
Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

Great information!  I hope you have a wonderful rest of the weekend!

Dec 09, 2018 06:46 AM #1
Rainmaker
746,396
Kimo Stowell
HI Pro Realty LLC RB-21531 - Honolulu, HI
REALTOR Associate® RS-76763 - Honolulu Hawai'i

Aloha Kristin Johnston - REALTOR®, Happy Sunday and thanks for the visit! 

Dec 09, 2018 11:14 AM #2
Rainmaker
1,141,170
Joyce Marsh
Regal | Christie's International Real Estate - Orlando, FL
Regional Manager Regal Christie's Int'l Realty

I’m sure the buyers and sellers in your area appreciate your local market reporting. Wishing you a very successful month and new year. 

Dec 10, 2018 11:34 AM #3
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Rainmaker
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Kimo Stowell

REALTOR Associate® RS-76763 - Honolulu Hawai'i
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