Oahu real estate price increases in December 2015

The Oahu Real estate statistics for the month of December 2015 are released today. According to the analysis by the Honolulu real estate board, using data collected from its computerized Multiple Listing Service (MLS) system, the Island housing statistics are:

Oahu (Hawaii) Single-Family Home Re-sales
	Number of Oahu home Sales	This Month Compared To	*Median Oahu Sales Price**	This Month Compared To
Dec 2015	297		$700,000
Dec 2014	284	+4.6%	$690,000	+1.4%

Oahu Condominium Re-sales
	Number of Oahu condo Sales	This Month Compared To	Median* Oahu Sales Price	This Month Compared To
Dec 2015	424		$386,250
Dec 2014	390	+8.7%	$361,250	+6.9%

*Median price means half the prices were above and half below the given price.

More price increases in Oahu real estate – December 2015

During December, the median price paid for single-family homes increased by 1.4% year over year to $700,000. The median price for condominiums increased by 6.9% percent from last year to $386,250. Sales of single-family homes increased by 4.6 percent, while condominium sales increased by 8.7% percent from December 2014. According to the Days on Market indicator, single-family homes were on the market for 20 days while condominiums were on the market for 24 days.

January 7 News Release: December 2015 Honolulu real estate statistics

“The strong sales trend which began before last summer has continued,‖ said Kalama Kim, president of the Honolulu Board of Realtors. Demand for condominiums was especially high, pushing the median price to a new record. There were 226 sales under $400,000, compared to 11 that were for more than $1 million. This shows that most of the condo sales took place at the affordable end of the spectrum. The downtown metro area saw a burst in sales, which may be the result of the number of attractive units available in those areas. We’re encouraged by the jump in new listings – we saw a 13.5 percent increase in condominiums, and 5.8 percent in single-family homes. More inventory at all price points is essential to meeting the demand in the market. Looking ahead, the increase in pending sales for both single family homes and condominiums last month may lead to stronger sales figures in the next few months once those transactions close.”

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