Hawaii real estate statistics November 2014

Hawaii Real Estate Statistics November 2014

Hawaii real estate sales statistics for the island of Oahu for the month of November 2014. 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
November 2014 225 $719,500
November 2013 296 -24% $684,000 +5.2%

 

Oahu Condominium Re-sales
Number of Oahu
condo Sales
This Month
Compared To
Median* 
Oahu Sales Price
This Month 
Compared To
November 2014
363 $343,000
November 2013 407 -10.8% $330,000 +3.9%

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

Oahu, Hawaii, real estate sales increased in November 2014

During November, the median price paid for single-family homes increased 5.2% percent from the same month last year to $719,500. The median price for condominiums increased by 3.9 percent from last year to  $343,000. The previous high median sales price for single-family homes was $700,000 in June 2014, while the previous high for condominiums was $360,000 in June 2014. Sales of single-family homes decreased by 24% percent, while condominium sales decreased by 10.8 percent from November 2013. According to the Days on Market indicator, single-family homes were on the market for an average of 27 days, while condominiums were on the market for an average of 27 days.

News Release/ November 2014 Honolulu, Hawaii, real estate Statistics December 7, 2014

“While the median price for a single-family home reached another record high this year, there were mitigating factors that caused it to hit $719,500,” said Julie Meier, president of the Honolulu Board of REALTORS®. “Unfortunately, the inventory of homes selling for $550,000 or less has dwindled drastically. For example, 171 of the 225 properties sold in November were priced above $550,000, and 56 of those went for $1 million or more. As a result of the large number of relatively high-end sales, the median price rose.

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