Oahu home sale prices increase – February 2017 statistics

Oahu home sale prices increase for the Month of February 2017.  The Honolulu Housing Statistics show that strong sales are continuing, pushing Real Estate prices on Oahu higher in February 2017. This is shown in Oahu real estate statistics for the month of February 2017, which are 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.

February 2017 Oahu home sale prices increase

During February, the median price paid for single-family homes increased by 7.9% year over year to $755,000. The median price for condominiums increased by 1.7% percent from last year to  $385,000. Sales of single-family homes declined 7.9 percent year over year, while condominium sales rose 11.7 percent from February 2016. According to the Days on Market indicator, single-family homes were on the market for 21 days while condominiums were on the market for 22 days.

March 7 News Release: February 2017 Honolulu real estate statistics

“The volume of single-family houses coming onto the market is not keeping pace with the demand,” said Sue Ann Lee, president of the Honolulu Board of Realtors. “With limited inventory, it is no surprise that home prices are soaring. The double-digit increase in condominium and townhome sales reflects buyers’ needs for an affordable alternative to single-family houses.”