Honolulu Homes Sales - February, 2018

Real Estate

Honolulu Homes Sales - February, 2018

Reported by Honolulu Borad of Realtors

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OAHU CONDOMINIUM SALES AND MEDIAN PRICES INCREASE,

SINGLE-FAMILY HOME SALES DIP IN FEBRUARY
HONOLULU (Mar. 6, 2018) —

Housing prices and sales for Oahu were mixed in February according to resales figures released today by the Honolulu Board of REALTORS®. The analysis conducted by the Board using data collected from its computerized Multiple Listing Service (MLS) system show the following statistics:


Single-Family Home Resales

                              Number of           This Month         Median*             This Month 

                                   Sales             Compared To      Sales Price          Compared To
    February 2018           217                                            $772,500  
       

    February 2017           221             -1.8% Down  ⇓      $755,000                2.3%  ⇑     


Condominium** Resales

                                Number of         This Month                 Median*         This Month   

                                     Sales            Compared To             Sales Price       Compared To

     February 2018          385                                                     $409,000      

     February 2017                             6.4%   UP ⇑               $385,000         6.2%  ⇑     

                                                                                              *************************************************
*Median price means half the prices were above and half below the given price. **Condominiums also includes townhomes.
During February 2018, sales of single-family homes decreased slightly by 1.8 percent from February 2017, while condominium sales increased modestly by 6.4 percent. The median price paid for singlefamily homes increased by 2.3 percent from the same month last year to $772,500. The median price for condominiums was $409,000, an increase of 6.2 percent. According to the Days on Market indicator, the median days for single-family homes was 19 and 23 days for condominiums. 

News Release / February 2018 Housing Statistics -2
“The slower pace of sales and modest increase in median prices for both housing categories is typical this time of year, as February has traditionally been the slowest month,” said Darryl Macha, president of the Honolulu Board of REALTORS®. “While pending sales were slightly down from last year, it’s encouraging to see that new listings increased, especially the 18 percent gain in the condominium market. We expect to see a slow increase in sales starting in March through the peak, usually in July and August.”