Honolulu real estate market report November 2011

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

During November, sales of 251 single-family homes and 333 condominiums were reported through the
Board’s MLS, increases of 1.2 percent and 5.4 percent, respectively, for single-family homes and
condominiums from November 2010. The median price paid for island properties in November was
$580,000 for single-family homes and $295,000 for condominiums, an increase of 1 percent for singlefamily
homes and a decrease of 5.4 percent for condominiums compared to the same month last year.
According to the Days on Market indicator, sales of single-family homes and condominiums closed at a
faster pace last month compared to a year ago, with homes listing for 35 days and condominiums listing
for 42 days.
“We are pleased to see that sales of both single-family homes and condominiums have increased
compared to last year. In fact, this is the fourth month in a row that condominium sales have been up, as
buyers take advantage of lower prices and quicker deals and the inventory clears out,” said Joyce
Nakamura, President of the Honolulu Board of REALTORS®. “This is pretty positive news given that
November is historically one of the slowest months for real estate sales.”

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 5,300 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.

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply