Number crunching: April real estate stats
The Honolulu Board of Realtors (HBR) released its residential resale figures today for April 2011, showing stable median sales prices but a marked decline in number of sales compared to last year.
According to HBR's analysis of its MLS data:
- 229 single-family homes sold in April 2011, a decrease of 19.6 percent compared to 285 homes in April 2010.
- The median price paid for single-family homes in April was $585,000, which was a 3.5 percent increase over last year's median of $565,000.
- 379 condos were sold in April 2011, compared to 409 at the same time last year, 6.7 percent decrease for the month.
- The median price paid for condos was $305,000, which is only a slight decrease compared to last April's median of $307,000.
- According to the Days on Market indicator, sales closed at a slower pace last month compared to a year ago with single-family homes listing for 34 days, up from 26, and condominiums listing for 34 days, up from 24.
"Median prices are holding pretty firm in the current Oahu housing market, at $585,000 and $305,000, in April," said Joyce Nakamura, President of the Honolulu Board of Realtors. "April's data shows that there is enough demand, albeit lower than last year, to maintain our residential price levels. We continue to experience a stable environment for both buyers and sellers."