September Real Estate Stats for Oahu


Published:

The Honolulu Board of Realtors released the September residential resales statistics yesterday. Overall, changes in the market last month were minimal, showing mostly small, steady gains, which points to a pretty stable housing market:

• There were 274 single-family home resales and 298 condominium resales last month, representing an 8.3-percent increase and 15.8-percent decrease, respectively, from September 2009.
• Last month, the median sales price for single-family homes was $622,450, up 2.9 percent from a year ago. For condos, the September median sales price of $335,000 represented a slightly larger gain—8.2 percent—from Sept. 2009.
• The days-on-market stats, which indicate the median number of days from when a property is first listed to when it’s pending sale, showed the most change: Last month, single-family homes remained on the market for 32 days, a nearly 40-percent decrease from Sept. 2009; condos lingered on the market for 39 days, representing an 11.5-percent decrease from Sept. 2009.
• The island’s inventory-of-homes data shows steady declines in the month of September. Last month, there were 1,515 active single-family home listings compared to 1,711 in September of last year. Condo inventory also slightly decreased—there were 2,098 condos on the market last month, compared to 2,251 in Sept. 2009.
• Another indicator of a steady market is the percent of original list price received at sale, which is the average percentage found by dividing a sold property’s sales price by its original price. Single-family homes in Sept. 2010 received about 95.2 percent of the original list price, a 2.9 percent increase from Sept. 2009. Last month, condos also received approximately 95.2 percent of their original list price, a 1.6 percent increase from Sept. 2009.

For more information: www.hicentral.com.
 

Edit ModuleShow Tags
Edit ModuleShow Tags Edit Module

Subscribe to Honolulu

Edit ModuleEdit ModuleShow Tags Edit ModuleShow Tags
Edit ModuleShow Tags