Honolulu condo and Home sales surge higher in May 2017 – Real estate statistics

Honolulu condo and home sales surge higher for the Month of May 2017.  The Honolulu (Oahu) Real Estate statistics show that number of condo sales are increasing, pushing Real Estate activity higher on Oahu higher in May 2017. This is shown in Oahu real estate statistics for the month of May 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.

May 2017 Condo and home sales surge higher for Oahu

During May, the median price paid for single-family homes increased by 3.6% year over year to $745,000. The median price for condominiums increased by 9.0% percent from last year to  $406,500. Sales of single-family homes increased by 13.5 percent year over year, while condominium sales increased by 13.2 percent from May 2016. According to the Days on Market indicator, single-family homes and condos were both on the market for 14 days.

June 7 News Release: May 2017 Honolulu real estate statistics

“Summer is typically the peak of housing sales and this year we’re off to a great start with May bringing near-record closed sales,” said Sue Ann Lee, president of Honolulu Board of Realtors. “Single-family home sales were the highest we’ve seen since August 2013 and condominiums are up by double digits. With the continued demand for housing and limited inventory, it’s not surprising that pending sales quickly translated to closed sales from eager home buyers in all price ranges. We anticipate a high number of closed sales in the coming weeks as pending single-family home sales are up by 37.7% and condo sales are 25.3% higher than last May.”