Highest number of Hawaii condos sold in a decade with 575 closed sales in Honolulu

The highest number of Hawaii condos sold in a decade with 575 condos sales in Honolulu County. The Honolulu (Oahu) Real Estate statistics show that the number of condo sales were the highest since August 2006. This is shown in Oahu real estate statistics for the month of August 2017, which were released today. According to the analysis by the Honolulu real estate board, using data collected from its computerized Multiple Listing Service (MLS) system, the Oahu island housing supply and statistics are:

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

August 2017 Median condo sale prices hit record high for Oahu

During August, the median price paid for single-family homes increased by 5.2% year over year to $786,250. The median price for condominiums increased by 5.3% percent from last year to  $419,000. Sales of single-family homes increased by 5.2 percent year over year, while condominium sales increased by 5.3 percent from August 2016. According to the Days on Market indicator, single-family homes and condos were on the market for 16 and 18 days, respectively.

September 7 News Release: August 2017 Honolulu real estate statistics

“The 575 closed sales for condominiums is the highest we’ve seen since 580 sold in August 2006,” said Sue Ann Lee, president of Honolulu Board of REALTORS®. “Although this August’s condo sales did not break the record-high of 831 set in August 2005, it is still the highest we’ve seen in eleven years. Condos and townhouses are becoming an attractive alternative for homebuyers due to the affordable price point. The 11.2 percent increase in condo inventory throughout Oahu provided consumers with more selection, as demonstrated by the nearly 30 percent increase in pending sales.”