The Honolulu Board of REALTORS® released the following resale figures. According to the analysis conducted by the Board, using data collected from its computerized Multiple Listing Service (MLS) system, the statistics are:
| Single Family |
YTD 2010 |
YTD 2011 |
+ / - |
| Closed Sales |
2,497 |
2,429 |
-2.7% |
| Median Sales Price |
$596,500 |
$570,000 |
-4.4% |
| Months Supply of Inventory |
6.7 |
5.6 |
-16.8% |
| Condominium |
YTD 2010 |
YTD 2011 |
+ / - |
| Closed Sales |
3,308 |
3,356 |
+1.5% |
| Median Sales Price |
$305,000 |
$302,790 |
-0.7% |
| Months Supply of Inventory |
6.8 |
5.3 |
-21.1% |
Sales activity for October 2011 continues its single digit (up or down) stability in number of closed sales and median sales price, compared to 2010, with the exception of monthly of inventory which has dropped significantly in both the single family and condominium market segments; by 16.8% and 21.1% respectively. Decreased supply tends to foster a Seller's market - a rare occurrence nationally, while record breaking interest rates bolster the ability for buyers to enter the market as well.
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