Honolulu January 2010 real estate statistics

August 24th, 2010 by Malia Leilani Meenderman

The Honolulu Board of REALTORS® released resale figures today for the month of January. According to the analysis conducted by the Board, using data collected from its computerized Multiple Listing Service (MLS) system, the statistics are:

January 2010 Residential Resales Statistics for Oahu

Single Family Home Resales
Number of
Sales		 This Month
Compared To		 Median*
Sales Price		 This Month
Compared To
January 2010 162 $ 597,500
December 2009 $ 550,000 up 8.6%
January 2009 122 up 32.8% $ 539,500 up 10.8%

Condominium Resales
Number of
Sales		 This Month
Compared To		 Median*
Sales Price		 This Month
Compared To
January 2010 227 $ 299,000
December 2009 $ 300,000 dn 0.3%
January 2009 159 up 42.8% $ 305,000 dn 2%

Click here to view January 2010 Resales Charts.
*Median price means half the prices were above and half below the given price.

During January, sales of 162 single-family homes and 227 condominiums were reported through the Board’s MLS, an increase of 32.8 percent for single-family homes and an increase of 42.8 percent for condominiums, compared to the same month last year. The median prices paid for island properties in the January was $597,500 for single-family homes and $299,000 for condominiums, an increase of 10.8 percent for single-family homes and a decrease of 2 percent for condominiums from January 2009. The year-to-date total dollar sales volume generated in the housing market through January was $190.7 million, an increase of 31 percent ($45 million), compared to the $145.6 million produced one year ago.

“January’s sales numbers for both single-family homes and condominiums are very encouraging for the Oahu real estate market,” said Brian Benton, President of the Honolulu Board of REALTORS®. “Competitive pricing, current inventory levels, and the extension of the federal tax credit seem to be turning house hunters into first time homebuyers.”

The public is encouraged to visit the Board’s Internet web site at www.HiCentral.com to see what’s happening in the housing market. The public has the ability to search through Oahu single-family home and condominium listings, available for sale and for rent, and to see a comprehensive guide of homes that will be open to visit this Sunday. All searches can be done by geographic location, price range or both. HiCentral.com provides useful information about buying and selling real estate in Hawaii.

Established in 1922, the Honolulu Board of REALTORS® is one of the largest of 1,600 boards of REALTORS® in the nation and, with over 5,500 members, the largest trade organization on Oahu. Membership is available to licensed real estate brokers, agents, property managers, appraisers, counselors and others engaged in all aspects of the real estate industry pledged to adhere to a strict Code of Ethics and Standards of Practice. For more information, call (808) 732-3000 or visit www.HiCentral.com.

Honolulu February 2010 housing market statistics

March 1st, 2010 by Malia Leilani Meenderman

Oahu’s residential real estate market continue to enjoy strong sales during February, according to resale figures released today by the Honolulu Board of REALTORS®. According to the analysis conducted by the Board, using data collected from its computerized Multiple Listing Service (MLS) system, the statistics are:

February 2010 Residential Resales Statistics for Oahu

Single Family Home Resales
Number of
Sales		 This Month
Compared To		 Median*
Sales Price		 This Month
Compared To
February 2010 157 $ 570,000
January 2010 162 down 3.1% $ 597,500 down 4.6%
February 2009 129 up 21.7% $ 550,000 up 3.6%

Condominium Resales
Number of
Sales		 This Month
Compared To		 Median*
Sales Price		 This Month
Compared To
February 2010 231 $ 298,000
January 2010 227 up 1.7% $ 299,000 down 0.33%
February 2009 160 up 44.4% $ 297,000 up 0.33%

Click here to view February 2010 Resales Charts.
*Median price means half the prices were above and half below the given price.

During February, sales of 157 single-family homes and 231 condominiums were reported through the Board’s MLS, an increase of 21.7 percent for single-family homes and an increase of 44.4 percent for condominiums, compared to the same month last year. The median prices paid for island properties in the February was $570,000 for single-family homes and $298,000 for condominiums, a decrease of 3.6 percent for single-family homes and an increase of 0.33 percent for condominiums from February 2009. The year-to-date total dollar sales volume generated in the housing market through February was $ 390.5 million, an increase of 39.3 percent or $ 110.1 million, compared to the $ 280.4 million produced one year ago.

“The sales figures for February are very encouraging for Honolulu’s real estate market,” said Brian Benton, President of the Honolulu Board of REALTORS®. “There’s been a great deal of pent up demand from consumers and current market conditions are getting them to get back into the real estate market.”

The public is encouraged to visit the Board’s Internet web site at www.HiCentral.com to see what’s happening in the housing market. The public has the ability to search through Oahu single-family home and condominium listings, available for sale and for rent, and to see a comprehensive guide of homes that will be open to visit this Sunday. All searches can be done by geographic location, price range or both. HiCentral.com provides useful information about buying and selling real estate in Hawaii.

Established in 1922, the Honolulu Board of REALTORS® is one of the largest of 1,600 boards of REALTORS® in the nation and, with over 5,500 members, the largest trade organization on Oahu. Membership is available to licensed real estate brokers, agents, property managers, appraisers, counselors and others engaged in all aspects of the real estate industry pledged to adhere to a strict Code of Ethics and Standards of Practice. For more information, call (808) 732-3000 or visit www.HiCentral.com.

(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. The time delay between the signing of a sales contract and the closing of escrow is usually between one and three months.)

Honolulu Board of realtors December 2009 and year end statistics

January 5th, 2010 by Malia Leilani Meenderman

The Honolulu Board of REALTORS® released resale figures today for the month of December 2009 and the year end statistics. According to the analysis conducted by the Board, using data collected from its computerized Multiple Listing Service (MLS) system, the statistics are:

December 2009 Residential Resales Statistics for Oahu

Single Family Home Resales
Number of
Sales		 This Month
Compared To		 Median*
Sales Price		 This Month
Compared To
December 2009 265 $ 550,000
November 2009 249 up 6.4% $ 590,000 dn 6.7%
December 2008 194 up 36.6% $ 626,500 dn 12.2%

Condominium Resales
Number of
Sales		 This Month
Compared To		 Median*
Sales Price		 This Month
Compared To
December 2009 349 $ 300,000
November 2009 407 dn 14.2% $ 320,000 dn 6.2%
December 2008 243 up 43.6% $ 305,000 dn 1.6%

Click here to view December 2009 Resales Charts.
*Median price means half the prices were above and half below the given price.

During December, sales of 265 single-family homes and 349 condominiums were reported through the Board’s MLS, an increase of 36.6 percent for single-family homes and an increase of 43.6 percent for condominiums, compared to the same month last year. This brings total single-family home sales on Oahu to 2,585 for the year of 2009, a decrease of 5.7 percent over one year ago. Total condominium sales through December were 3,467, an 11.8 percent decrease from last year. The median prices paid for island properties in the year of 2009 was $575,000 for single family homes and $302,000 for condominiums, decreases respectively of 7.9 percent and 7.1 percent from 2008. The year-to-date total dollar sales volume generated in the housing market through December was $2.968 billion, a decrease of 19.3 percent or $712 million, compared to the $3.68 billion produced one year ago.

“Home and condominium sales for December 2009 were incredibly robust as compared to last year,” said Brian Benton, newly-elected President of the Honolulu Board of REALTORS®. “Well-qualified buyers are finding reasonably priced properties and the federal tax credits coupled with low interest rates have encouraged many of those who were ‘on the fence’ to purchase a new home.”

The Honolulu Board of REALTORS® also released annual resale figures for 2009. They are:

Annual 2009 Residential Resales Statistics for Oahu

Single Family Home Resales
Number of
Sales		 This Year
Compared To		 Median*
Sales Price		 This Year
Compared To
2009 2,585 $ 575,000
2008 2,741 dn 5.7% $ 624,000 dn 7.9%

Condominium Resales
Number of
Sales		 This Year
Compared To		 Median*
Sales Price		 This Year
Compared To
2009 3,467 $ 302,000
2008 3,933 dn 11.8% $ 325,000 dn 7.1%

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

The public is encouraged to visit the Board’s Internet web site at www.HiCentral.com to see what’s happening in the housing market. The public has the ability to search through Oahu single-family home and condominium listings, available for sale and for rent, and to see a comprehensive guide of homes that will be open to visit this Sunday. All searches can be done by geographic location, price range or both. HiCentral.com provides useful information about buying and selling real estate in Hawaii.

Established in 1922, the Honolulu Board of REALTORS® is one of the largest of 1,600 boards of REALTORS® in the nation and, with over 5,500 members, the largest trade organization on Oahu. Membership is available to licensed real estate brokers, agents, property managers, appraisers, counselors and others engaged in all aspects of the real estate industry pledged to adhere to a strict Code of Ethics and Standards of Practice. For more information, call (808) 732-3000 or visit www.HiCentral.com.

(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. The time delay between the signing of a sales contract and the closing of escrow is usually between one and three months.)