Oahu homes market continues to strengthen - May 2016 Hawaii House

Oahu home market continues to strengthen – May 2016 statistics

Oahu properties sell faster in May 2016. The Oahu real estate statistics for the month of May 2016 are 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 Hawaii island housing statistics are:

Oahu (Hawaii) Single-Family Home Re-sales
Number of Oahu
home Sales
This Month
Compared To
Median* Oahu
home sales price
This Month 
Compared To
May 2016319$719,000
May 2015309+3.2%$698,000+3.0%
Oahu Condominium Re-sales
Number of Oahu
condo Sales
This Month
Compared To
Median* 
Oahu Sales Price
This Month 
Compared To
May 2016
477$373,000
May 2015450+6.0%$375,000-0.5%

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

May 2016 brings again housing price increases for Oahu

During May, the median price paid for single-family homes increased by 3.0% year over year to $719,000. The median price for condominiums decreased by -0.5% percent from last year to  $373,000. Sales of single-family homes increased by 3.2% to 319 units, while condominium sales increased by 6.0 percent from May 2015. According to the Days on Market indicator, single-family homes were on the market for 17 days while condominiums were on the market for 15 days.

June 7 News Release: May 2016 Honolulu real estate statistics

“The real estate market in Honolulu continues to experience slow but steady growth,” said Kalama Kim, 2016 Honolulu Board of Realtors President. “Unlike the mid-2000’s where we enjoyed prices and unit sales growing by nearly 20 percent year over year, today’s market slowly and surely marches forward. Owners considering placing their homes on the market are comforted by the fact that it took only 17 days for homes and 15 days for condominiums to find buyers. Buyers are excited, and still rushing to market to find a property to purchase because mortgage interest rates continue to remain at very low levels. It is critical that more homes become available for sale to meet the ongoing buyer demand as we continue to see the inventory of homes for sale dwindle.

Daily Oahu real estate market watch with instant statistics, new listings for the day and links to neighborhood statistics and real estate data such as Kakaako neighborhood statistics.

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