October 2011 Honolulu statistical report

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

During October, sales of 223 single-family homes and 321 condominiums were reported through the
Board’s MLS, a decrease of 9 percent and an increase of 0.6 percent, respectively, for single-family
homes and condominiums from October 2010. The median price paid for island properties in October was $579,000 for single-family homes and $305,000 for condominiums, a decrease of 2.3 percent for single family homes and a 1.7 percent increase 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
slower pace last month compared to a year ago, with homes listing for 45 days and condominiums listing for 38 days. “October’s numbers reflect a movement toward stability in the market. We saw an increase in the number of sales and median sales prices of condominiums as well as increases in pending sales for both single family homes and condominiums,” said Joyce Nakamura, President of the Honolulu Board of REALTORS®. “It is also encouraging to see that there isn’t excess of inventory in the market, and properties are selling steadily.”

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.