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Wednesday, February 9, 2011

Number Crunching: Honolulu’s January Real Estate Stats

The January residential resales statistics from the Honolulu Board of Realtors were just released, and the numbers show that the year is off to a good start. Single-family and condominium home resales increased last month by 11.2 percent and 9.5 percent, respectively, from January 2010. That said, the median sales price for both single-family homes and condos decreased slightly, by 4.2 percent and 2.7 percent, respectively. Here, an in-depth look at the numbers:

• There were 199 single-family home resales in January, an 11.2 percent increase from Jan. 2010. There were 265 condo sales last month, a 9.5 percent increase from the previous year.
• The single-family home median sales price settled in at $570,000 last month, a 4.2 percent decrease. Condos saw a slightly smaller decrease of 2.7 percent from Jan. 2010, resulting in a median sales price of $291,000.
• The pending sales numbers are looking good: There were 269 pending single-family home sales last month, a 21.2 percent increase from Jan. 2010. The condo numbers are even better, with 426 pending sales, a 53 percent increase from Jan. 2010.
• The number of days that properties are on the market before selling continues to decrease, with single-family homes on the market last month for just 38 days, a decrease of 11.6 percent. Condos, however, moved at a slightly slower rate, with a days on market number of 49, a 36 percent increase from Jan. 2010.
• Single-family homes received 94.6 percent of the original list price, a minor decrease of .1 percent; condos received 94.3 percent, a .5 percent decrease.
• The inventory of single-family homes for sale decrease 3.5 percent to 1,391. Condos saw a small, 1.1 percent boost, with an inventory of 1,969.
 

Posted on Wednesday, February 9, 2011 in Permalink

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About This Page

Honolulu Real Estate focuses on the Hawaii housing market, condos and homes for sale, Hawaii rentals and general news about real estate in Hawaii. It also includes stories on apartment living, home decor and profiles.
 


Melissa Chang graduated from the University of Hawaii with a degree in journalism and has been blogging since 2007, mostly on food and travel. She works primarily in social media, so you can find her online @Melissa808 on Twitter and Instagram.


 


Jaymes Song is a real estate agent at Prudential Advantage Realty in Kahala. Jaymes is in the top 7 percent of Prudential agents nationwide. Previously, Jaymes was at The Orange County Register, Honolulu Star-Bulletin and rose through the ranks to overseeing news and operations for AP in Hawaii and the Pacific Rim. Jaymes lives in the Portlock area and loves his real full-time job of being dad to two curious kids.


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