Oahu Housing Sales Slowed in December 2018

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

 

Oahu Median Home Prices December 2018

 

Oahu Housing Sales in December 2018

 

according to resales figures released this week 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
December 2018   259 $788,000  
December 2017   361 -28% $750,000 5.1%

 

Condominium Resales

  Number of Sales  Median Sales Price
December 2018   440 $398,500
December 2017   461 -4.6% $405,000 -1.6%

 

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

**Condominiums also includes townhomes.

 

 

During December 2018, sales of single-family homes decreased by 28.3 percent and condominiums sales decreased by 4.6 percent from December 2017. The median price paid for single-family homes in December 2018 increased by 5.1 percent from the same month last year to $788,000, while the median price for condos decreased by 1.6 percent to $398,500. According to the Days on Market indicator, the median days increased slightly for single-family homes to 30 and 25 days for condominiums.

 

“While sales slowed and inventory of active listings increased in the last few months of 2018, December home prices remained very stable,” said Darryl Macha, 2018 president of the Honolulu Board of REALTORS®. “We began to see a shift in the market during the last quarter of the year and as 2019 begins, it appears that trends point toward a more balanced market for buyers and sellers. With the increased inventory in both single-family homes and condominiums, well-qualified buyers may have more options to consider. While current mortgage rates are still relatively low, they are anticipated to rise this year, so those ‘on the fence’ may want to consider purchasing sooner rather than later.”

 

 

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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honolulu real estate statistics 2018
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Kimo Stowell

REALTOR Associate® RS-76763 - Honolulu Hawai'i
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