Honolulu January 2010 real estate statistics

The Honolulu Board of REALTORS® released resale real estate statistics figures today for the month of January 2010. According to the analysis conducted by the Board, using data collected from its computerized Multiple Listing Service (MLS) system, the statistics are:

January 2010 Residential Resales Statistics for OahuSingle Family Home Resales
Number of
Sales
This Month
Compared To
Median*
Sales Price
This Month
Compared To
January 2010 162 $ 597,500
December 2009 $ 550,000 up 8.6%
January 2009 122 up 32.8% $ 539,500 up 10.8%

Condominium Resales
Number of
Sales
This Month
Compared To
Median*
Sales Price
This Month
Compared To
January 2010 227 $ 299,000
December 2009 $ 300,000 dn 0.3%
January 2009 159 up 42.8% $ 305,000 dn 2%

Click here to view January 2010 Resales Charts.
*Median price means half the prices were above and half below the given price.

During January, sales of 162 single-family homes and 227 condominiums were reported through the Board’s MLS, an increase of 32.8 percent for single-family homes and an increase of 42.8 percent for condominiums, compared to the same month last year. The median prices paid for island properties in the January was $597,500 for single-family homes and $299,000 for condominiums, an increase of 10.8 percent for single-family homes and a decrease of 2 percent for condominiums from January 2009. The year-to-date total dollar sales volume generated in the housing market through January was $190.7 million, an increase of 31 percent ($45 million), compared to the $145.6 million produced one year ago.

“January’s sales numbers for both single-family homes and condominiums are very encouraging for the Oahu real estate market,” said Brian Benton, President of the Honolulu Board of REALTORS®. “Competitive pricing, current inventory levels, and the extension of the federal tax credit seem to be turning house hunters into first time homebuyers.”

The public is encouraged to visit the Board’s Internet web site at www.HiCentral.com to see what’s happening in the housing market. The public has the ability to search through Oahu single-family home and condominium listings, available for sale and for rent, and to see a comprehensive guide of homes that will be open to visit this Sunday. All searches can be done by geographic location, price range or both. HiCentral.com provides useful information about buying and selling real estate in Hawaii.

Established in 1922, the Honolulu Board of REALTORS® is one of the largest of 1,600 boards of REALTORS® in the nation and, with over 5,500 members, the largest trade organization on Oahu. Membership is available to licensed real estate brokers, agents, property managers, appraisers, counselors and others engaged in all aspects of the real estate industry pledged to adhere to a strict Code of Ethics and Standards of Practice. For more information, call (808) 732-3000 or visit www.HiCentral.com.

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