Continued Market strength in Hawaii real estate - May 2015

Continued market strength in Hawaii real estate – May 2015

Real estate statistics for Hawaii  (for the island of Oahu) for the month of May 2015. According to the analysis by the Honolulu real estate board, using data collected from its computerized Multiple Listing Service (MLS) system, the Island housing statistics are:

Oahu (Hawaii) Single-Family Home Re-sales
Number of Oahu
home Sales
This Month
Compared To
Median* Oahu
Sales Price
This Month 
Compared To
May 2015 309 $698,000
May 2014 305 +1.3% $682,000 +2.3%
Oahu Condominium Re-sales
Number of Oahu
condo Sales
This Month
Compared To
Median* 
Oahu Sales Price
This Month 
Compared To
May 2015
450 $375,000
May 2014 457 -1.5% $355,000 +5.6%

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

Continued strength in Hawaii real estate – May 2015

During May, the median price paid for single-family homes increased by 2.3 percent from the same month last year to $698,000. The median price for condominiums increased by 5.6 percent from last year to  $375,000. Sales of single-family homes increased by 1.3 percent, while condominium sales decreased by 1.5 percent from May 2014. According to the Days on Market indicator, single-family homes were on the market for 17 days while condominiums were on the market for 23 days.

News Release/ May 2015 Honolulu, Hawaii, real estate Statistics June 7, 2015

“This past May saw median prices for single family homes and condominiums rise,” said Jack Legal, president of the Honolulu Board of REALTORS®. “The statistics are very similar to those of May 2014. We’re seeing improvement in the inventory of homes and condos, but demand remains high for housing at all points of the pricing spectrum.”

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