Oahu Condo Sales Heat Up in May, While Median Prices Cool

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

Oahu Median Prices May 2019

 

CONDO SALES HEAT UP IN MAY WHILE MEDIAN PRICES COOL

 

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 320  $770,000  
February 2018 332  -3.6% $778,000  -1.0%

 

Condominium Resales

  Number of Sales Median Sales Price
February 2019 520  $417,500  
February 2018 495  5.1% $430,000  -2.9%

 

During May 2019, condominium sales increased by 5.1 percent from May 2018, while single-family home sales decreased by 3.6 percent. Total sales volume in May increased by 1.6 percent, the first year- over-year gain since July 2018. The median prices paid for single-family homes decreased modestly by 1.0 percent to $770,000, while the median price for condos dipped by 2.9 percent to $417,500. New listings increased from the same time period last year for both single-family homes and condominiums by 5.2 percent and 7.1 percent, respectively. According to the Days on Market indicator, the median days for single-family homes was 21 and 27 for condominiums.

 

“The Oahu housing market is experiencing activity similar to that being seen nationally, especially in major metropolitan areas, with moderate shifts in both median prices and sales, along with increases in available inventory,” said Jenny L. Brady, President of the Honolulu Board of REALTORS®. “The 30- year fixed mortgage rate recently fell below four percent for the first time since January 2018, which may drive consumers to make home purchasing decisions as we move into the summer months.”

 

 

For Expert Sales and Property Management in Honolulu,

CONTACT HI Pro Realty TODAY!

 

 

 

 

 

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 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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Real Estate Market Trends
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Hawaii Honolulu County Honolulu
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home sales stats
hawaii housing market
hi pro realty llc property management
honolulu housing stats 2019
oahu market statistics 2019
oahu housing sales in may 2019

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Kimo Stowell

REALTOR Associate® RS-76763 - Honolulu Hawai'i
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