December 2011
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 |
3,057 |
2,974 |
-2.7% |
| Median Sales Price |
$593,000 |
$575,000 |
-3.0% |
| Months Supply of Inventory |
6.0 |
4.8
|
-19.7% |
| Condominium |
YTD 2010 |
YTD 2011 |
+ / - |
| Closed Sales |
3,977 |
4,029 |
+1.3% |
| Median Sales Price |
$305,000 |
$300,000 |
-1.6% |
| Months Supply of Inventory |
6.5 |
5.0 |
-23.2% |
The months supply of inventory continues be the leading indicator of O'ahu's real estate market which for both single family homes and condominiums dropped yet another 20% or so. Meanwhile,
local interest rates; largely under 4%, provide ample incentive for qualified buyers. Pending sales, a sign of activity-in-progess, are also up again this month; 11.8% for single family and 9.9% for condominiums.
| Single Family: $1 million - $2 million |
2010 |
2011 |
+ / - |
| Closed Sales |
306 |
320 |
+4.6% |
| Months Supply of Inventory |
8.9 |
7.9 |
-11.2% |
| Condominium: $800K - $1 million |
2010 |
2011 |
+ / - |
| Closed Sales |
70 |
76 |
+8.6% |
| Months Supply of Inventory |
6.5 |
5.0 |
-23.1% |
For the first time in over five years, the months supply of inventory for single family homes between $1 million and $2 million has fallen below nine months – one of several indicators of good health returning to Oahu’s luxury real estate market.
In addition, number of closed sales in 2011 kept pace with 2010 across all luxury segments from $1 million up to the $5 million plus range.
Featured Luxury Homes...
In the news...
Honolulu Housing Market Ranks in the Nation's Top 15
Sony Open in Hawaii Attracts Eight Past Champions
Hawaiian Airlines to Expand Honolulu-to-Seoul Service
DeBartolo's $400M West Oahu Shopping Mall Gets Final OK
Hawaii's Strategic Position Could Prevent Military Cuts
Hawaii Tourism Authority: Q1 Air Seats Up 3.8%