Number Crunching: Honolulu Board of Realtors’ June stats
The Honolulu Board of Realtors released resale figures today for the month of June, indicating fewer homes and condos sold compared to the same time last year, but little change in prices overall.
“The median prices for Oahu single-family homes and condominiums have remained relatively stable,” says Honolulu Board of Realtors President Joyce Nakamura. “This time last year, market activity was boosted by the first-time homebuyer credit, so the decrease in sales recorded over last year is not unexpected. We’re also experiencing a decrease in inventory on Oahu, which is a positive indicator of continued strong demand in the market. It’s a much more sustainable environment.”
The sales for the month, using data from the Board's Multiple Listing Service (MLS), were reported as follows:
- According to the Days on Market indicator, sales closed at a similar pace last month compared to a year ago with single-family homes listing for 36 days and condominiums listing for 39 days.
- The Board’s MLS showed 248 single family homes were sold in June 2011, a decrease of 15.9 percent compared to June 2010.
- The median price for single family homes sold in June 2011 was $562,500, a decrease of 3.4 percent compared to $582,500 for June 2010.
- The sales of condos for June 2011 decreased 19.9 percent compared to the same month last year, with 354 units sold. The Board reported 442 condo sales in June 2010.
- The median price of condos remained flat in June 2011, increasing just .3 percent to $301,000. In June 2010, the median price of condos sold was $300,000.
For more information and to see the entire report, visit the Honolulu Board of Realtors' website here.