This month’s Oahu real estate market report… Up first, the 3rd quarter video update, followed by the resale figures for October.
The Honolulu Board of REALTORS® released the following resale figures for October 2010. According to the analysis conducted by the Board, using data collected from its computerized Multiple Listing Service (MLS) system, the statistics are:
| Single Family | # of Sales | Median Price |
| Current Month | 241 | $595,750 |
| Last Month | 278 | $620,000 |
| This Month Last Year | 290 | $604,500 |
| Condominium | # of Sales |
Median Price |
| Current Month | 310 | $300,000 |
| Last Month | 300 | $334,000 |
| This Month Last Year | 394 | $300,000 |
During October, sales of 221 single-family homes and 310 condominiums were reported through the Board’s MLS, a decrease of 16.9 percent and 21.3 percent, respectively, from October 2009. The median price paid for island properties was $595,750 for single-family homes and $300,000 for condominiums, a decrease of 1.4 percent for single-family homes and no change for condos, compared to the same month last year.
According to the Days on Market indicator, sales also closed faster in October with single-family homes listing for 35 days, down from 52 days, and condominiums down to 34 days from 54 days over prior year.
This report reflects information about resales of existing properties only and does not include new home sales. All of the MLS information is compiled from sales reported during the cited months; this data is known only after closing of escrow. The time delay between the signing of a sales contract and the closing of escrow is usually between one and three months.
Click HERE to download the complete statistical report.
Neighborhood Focus:
Kailua – Waimanalo
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State jobless rate edged down to 6.3% in Sept.
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Posted on November 20, 2010
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