January 2010 Hawaii real estate housing statistics

The Honolulu Board of REALTORS® released hawaii real estate housing resale 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 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.”

(This report reflects information about resales of existing properties only and does not include new home sales. All of the MLS information is compiled from sales reported during the cited months; this data is known only after closing of escrow. The time delay between the signing of a sales contract and the closing of escrow is usually between one and three months.)

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply