Strong Oahu housing market continues in October 2017

Strong Oahu housing market continues in October 2017. The Honolulu (Oahu) Real Estate statistics show that even during the typical slow Fall season, the market remains robust in October. This is shown in Oahu real estate statistics for the month of October 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.

October 2017 Median condo sale prices hit record high for Oahu

During October, the median price paid for single-family homes increased by 1.3% year over year to $752,000. The median price for condominiums increased by .4% percent from last year to $397,500. Sales of single-family homes increased by 6 percent year over year, while condominium sales increased by 14.3 percent from October 2016. According to the Days on Market indicator, single-family homes and condos were both on the market for 15 and 21 days, respectively.

November 7 News Release: October 2017 Honolulu real estate statistics

“Oahu’s housing market continues to be strong with consistent sales and steady median prices,” said Sue Ann Lee, president of Honolulu Board of Realtors. “The fall is traditionally a slower time for home sales, but demand is still robust as there are double digit increases in pending sales for single-family houses, as well as condominiums and townhomes. However, even with a rise in new listings, we still need more inventory to meet the pent up demand for housing.”