OAHU HOUSING SALES AND MEDIAN PRICES HOLD STEADY IN AUGUST 2019

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

Oahu Median Prices August 2019

 

OAHU HOUSING SALES AND MEDIAN PRICES HOLD STEADY IN AUGUST:

  

Sales volume in Oahu’s housing market was flat in August 2019 with median home sales prices dipping slightly, 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
August 2019   360 $790,000  
August  2018   354  1.7% $810,000   -2.5%

 

Condominium Resales

  Number of Sales Median Sales Price
August 2019   512 $419,500  
August 2018   521  -1.7% $427,000  -1.8%

 

During August, sales of 360 single-family homes and 512 condominiums closed, a 1.7 percent increase and 1.7 percent decrease, respectively, from the same month last year. This brings total single-family home sales on Oahu to 2,427 for the first eight months of 2019, down just 0.7 percent over the same time period one year ago, while total condominium sales were 3,608, a 6.4 percent decrease. The median price for single-family homes declined marginally by 2.5 percent to $790,000, while the condominium median price decreased by 1.8 percent to $419,500. The year-to-date median prices paid for Oahu properties in the first eight months of this year were $785,000 for single-family homes and $425,000 for condos, unchanged from the 2018 prices for the same time period.

 

“Overall, August was a quite stable month for Oahu’s residential real estate market compared to last year,” said Jenny L. Brady, President of the Honolulu Board of REALTORS®. “Sales were at about the same level as 2018 and prices have been steady as well, with the majority of single-family homes and condominiums selling within a narrow price range. We continued to see double digit increases in active listings for both single-family homes and condominiums throughout this year. While properties have remained on the market a little longer, the median days on market is still under a month.”

 

 

For Expert Sales and Property Management in Honolulu,

CONTACT HI Pro Realty TODAY!

 

 

Note:

The information contained in this report is provided to the National Association of REALTORS® and the Hawaii State Department of Economic Development, Business and Tourism for its official reports. This report reflects information about resales of existing properties only and does not include new home sales. All of the MLS information is compiled from sales reported during the cited months; this data is known only after closing of escrow.

 

 

 

 

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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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Rainer
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Ted Glover
Alderman Classic Realty, LLC - Moultrie, GA
ABR in Moultrie, Georgia 229-854-5422

Hi Kimo, is that just a small market adjustment.  Is this tied to the start of the school year?

Sep 07, 2019 08:49 PM #1
Rainmaker
744,111
Kimo Stowell
HI Pro Realty LLC RB-21531 - Honolulu, HI
REALTOR Associate® RS-76763 - Honolulu Hawai'i

Aloha Ted Glover, it would be quite reasonable to conclude that it's a back to school blip. Thanks for the question!

Sep 08, 2019 01:03 PM #2
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Rainmaker
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Kimo Stowell

REALTOR Associate® RS-76763 - Honolulu Hawai'i
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