Record Oahu home sale prices in June 2017 – Real estate statistics

Record Oahu home sale prices were set in June 2017.  The Honolulu (Oahu) Real Estate statistics show that prices for single family homes have reached an all time high on Oahu in June. This is shown in Oahu real estate statistics for the month of June 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.

June 2017 Median home sale prices hit record high for Oahu

During June, the median price paid for single-family homes increased by 4.6% year over year to a record $795,000. The median price for condominiums decreased by 1.4% percent from last year to  $400,000. Sales of single-family homes increased by 14.2 percent year over year, while condominium sales decreased by 2.2 percent from June 2016. According to the Days on Market indicator, single-family homes and condos were both on the market for 12 and 13 days, respectively.  A new record was also set in 12 days on market for single family homes.  This is an all time low for days on market.

July 7 News Release: June 2017 Honolulu real estate statistics

“It is amazing to see record sales prices and also the speed at which homes are selling this summer,” said Sue Ann Lee, president of Honolulu Board of Realtors. “Median sales prices for single-family houses were the highest we’ve seen since June 2016. Lack of inventory for single-family houses below $500,000 has pushed the median price higher. However, even with the higher median prices homeownership is clearly still a top priority of consumers, as pending sales for single-family houses are up by 38.7 percent and we anticipate those to be reflected in closed sales in the upcoming months.”