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Tuesday, January 11, 2011

2010 Honolulu Real Estate Recap

The Honolulu Board of Realtors just released the 2010 Annual Report for the Honolulu housing market, and things are looking sunny. The general consensus among realtors I’ve recently spoken with is that the market bottomed out some time ago, the market has stabilized and things are creeping back up. And the data released yesterday certainly seems to support that.

Sales of single-family homes were more robust than condo resales, but both were up from 2009.

For single-family homes:
 

  • New listings were up 6.3 percent.
  • Pending sales increased 10.7 percent.
  • Closed sales saw a 13.4 percent growth.
  • The median sales price in 2010 was $592,750, which was a 3 percent increase from 2009.
  • Single-family homes spent an average of 34 days on the market last year, a 30 percent decrease from the previous year.
  • In 2010, single-family home resales received approximately 95.5 percent of the original asking price, a 2.5 percent increase from 2009.


For townhouses and condominiums
:
 

  • New listings were up 1.6 percent.
  • Pending sales increased by 7.1 percent.
  • There were 10.3 percent more closed sales in 2010.
  • The median sales price of $305,000 was unchanged between 2009 and 2010.
  • Condos and townhouses spent 34 days on the market last year, a 30.6 percent decrease.
  • Condo and townhome resales received 95 percent of the original price, a 2.4 percent jump.

Posted on Tuesday, January 11, 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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