Number crunching: May 2013
Oahu home sales were up in May, according to the latest resale report from the Honolulu Board of Realtors.
Single-family home sales increased 9.5 percent last month, with 266 sales compared to 243 in May 2012. The median sales price dropped during the same period, however. In May 2013, the median sales price was $630,000, compared to $664,000 a year earlier.
News was better for condo sellers.
“May was an especially strong month for condominium sales. Not only did we see both sales and the median price increase, but sellers also received, on average, 99.1 percent of their average listing price,” said Honolulu Board of Realtors President Kevin Miyama in a press release.
May’s 452 condo resales represent an almost 22 percent increase over the prior year, and prices were up, too. Last month, the median sales price on a condo was $315,000, a $15,000 increase from May 2012.
Both single-family homes and condos were selling faster this May, according to the Realtors’ Days on the Market indicator. Single-family homes spent an average of 25 days on the market, while condoswere on the market for 27.
“Sales of single-family homes continue on an upward trend and we’re excited to see where the market goes,” Miyama said.
The report only includes resale information for existing properties, not new home sales.
For more information, visit the Honolulu Board of Realtors website at hicentral.com.