Honolulu Board of realtors December 2009 and year end statistics

The Honolulu Board of REALTORS® released resale figures today for the month of December 2009 and the year end statistics. According to the analysis conducted by the Board, using data collected from its computerized Multiple Listing Service (MLS) system, the statistics are:

December 2009 Residential Resales Statistics for OahuSingle Family Home Resales
Number of
Sales
This Month
Compared To
Median*
Sales Price
This Month
Compared To
December 2009 265 $ 550,000
November 2009 249 up 6.4% $ 590,000 dn 6.7%
December 2008 194 up 36.6% $ 626,500 dn 12.2%

Condominium Resales
Number of
Sales
This Month
Compared To
Median*
Sales Price
This Month
Compared To
December 2009 349 $ 300,000
November 2009 407 dn 14.2% $ 320,000 dn 6.2%
December 2008 243 up 43.6% $ 305,000 dn 1.6%
Click here to view December 2009 Resales Charts.
*Median price means half the prices were above and half below the given price.

During December, sales of 265 single-family homes and 349 condominiums were reported through the Board’s MLS, an increase of 36.6 percent for single-family homes and an increase of 43.6 percent for condominiums, compared to the same month last year. This brings total single-family home sales on Oahu to 2,585 for the year of 2009, a decrease of 5.7 percent over one year ago. Total condominium sales through December were 3,467, an 11.8 percent decrease from last year. The median prices paid for island properties in the year of 2009 was $575,000 for single family homes and $302,000 for condominiums, decreases respectively of 7.9 percent and 7.1 percent from 2008. The year-to-date total dollar sales volume generated in the housing market through December was $2.968 billion, a decrease of 19.3 percent or $712 million, compared to the $3.68 billion produced one year ago.

“Home and condominium sales for December 2009 were incredibly robust as compared to last year,” said Brian Benton, newly-elected President of the Honolulu Board of REALTORS®. “Well-qualified buyers are finding reasonably priced properties and the federal tax credits coupled with low-interest rates have encouraged many of those who were ‘on the fence’ to purchase a new home.”

The Honolulu Board of REALTORS® also released annual resale figures for 2009. They are:

Annual 2009 Residential Resales Statistics for OahuSingle Family Home Resales
Number of
Sales
This Year
Compared To
Median*
Sales Price
This Year
Compared To
2009 2,585 $ 575,000
2008 2,741 dn 5.7% $ 624,000 dn 7.9%

Condominium Resales
Number of
Sales
This Year
Compared To
Median*
Sales Price
This Year
Compared To
2009 3,467 $ 302,000
2008 3,933 dn 11.8% $ 325,000 dn 7.1%

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

 

(This report reflects information about resales of existing properties only and does not include new home sales. All of the MLS information is compiled from sales reported during the cited months; this data is known only after closing of escrow. The time delay between the signing of a sales contract and the closing of escrow is usually between one and three months.)

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