Hawaii real estate sales statistics Oahu June 2011

Hawaii real estate sales statistics for the month of June 2011 for Oahu. According to the analysis conducted by the Honolulu real estate board, using data collected from its computerized Multiple Listing Service (MLS) system, the statistics are:

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

During June, sales of 248 single-family homes and 354 condominiums were reported through the Board’s MLS, decreases of 15.9 percent and 19.9 percent, respectively, for single-family homes and condominiums from June 2010. The median price paid for island properties in June was $562,500 for single-family homes and $301,000 for condominiums, a decrease of 3.4 percent for single-family homes and an increase of 0.3 percent for condominiums, compared to the same month last year. According to the Days on Market indicator, sales closed at a similar pace last month compared to a year ago with singlefamily homes listing for 36 days and condominiums listing for 39 days.

News Release/ June 2011 Housing Statistics July 7, 2011

“The median prices for Oahu single-family homes and condominiums have remained relatively stable,” said Joyce Nakamura, President of the Honolulu Board of REALTORS®. “This time last year, market activity was boosted by the first-time homebuyer credit, so the decrease in sales recorded over last year is not unexpected. We’re also experiencing a decrease in inventory on Oahu, which is a positive indicator of continued strong demand in the market. It’s a much more sustainable environment.”

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