OAHU HOUSING SALES BLOOM IN APRIL, UP 10% IN 2019
Oahu’s housing market increased in sales volume, 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 show the following statistics:
Single-Family Home Resales
| Number of Sales | Median Sales Price | |
|---|---|---|
| February 2019 | 318 | $766,750 |
| February 2018 | 289 10% | $790,000 -2.9% |
Condominium Resales
| Number of Sales | Median Sales Price | |
|---|---|---|
| February 2019 | 476 | $418,950 |
| February 2018 | 547 -13% | $416,000 .07 |
During April 2019, the sales of single-family homes increased by 10.0 percent, while condominium sales decreased by 13.0 percent from April 2018. The median price paid for single-family homes decreased by 2.9 percent from the same month last year to $766,750, while the median price paid for condos increased to $418,950, a 0.7 percent increase from last April. Active listings increased year-over-year for both single-family homes and condominiums with gains of 30.6 percent and 17.6 percent, respectively. According to the Days on Market indicator, the median days for single-family homes was 25 and 29 for condominiums.
“After a slow first quarter that saw a decline in housing sales, but steady median prices, the Oahu market experienced positive activity in April with a 10 percent increase in single-family home sales,” said Jenny L. Brady, President of the Honolulu Board of REALTORS®. “Low mortgage interest rates, coupled with more inventory on the market compared to last year, presented better opportunities for potential homebuyers and spurred more of them to buy. While condo sales were down comparatively, there was still a healthy number of condo units sold in April.”
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