Oahu Home Sales-Jan. 2018

Market Trends

OAHU HOUSING MARKET OFF TO A STRONG START IN 2018

Condominium Median Price Reaches New High

Reported by H onolulu Board of Realtors

HONOLULU (February 6, 2018) — Oahu’s housing market started off strong in 2018 with increases inboth single-family home and condominium median prices in January according to resales figures releasedtoday by the Honolulu Board of REALTORS®. The analysis conducted by the Board using data collectedfrom its computerized Multiple Listing Service (MLS) system show the following statistics:


Single-Family Home Resales

                                 Number of               This Month              Median* Sales       This Month
                                        Sales               Compared To                    Price              Compared To

      January 20              252                                                     $772,000                    

      January 2017          247                     2.0%  UP               $730,000                 5.8%  UP

                                                                 Condominium** Resales

                                    Number of           This Month               Median* Sales      This Month
                                        Sales               Compared To                    Price             Compared To            

      January 2018                     374                                           $430,00              

      January 2017                     378        -1.1%  Down            $380,000                13.2% UP


*Median price means half the prices were above and half below the given price. **Condominiums also includes townhomes.

During January 2018, the median price paid for single-family homes increased by 5.8 percent from the same month last year to $772,000. The median price for condos increased by 13.2 percent to reach a new record of $430,000, which was previously set in July and September of 2017 at $425,000. The sales of single-family homes rose slightly by 2.0 percent, while condominiums sales decreased by 1.1 percent from January 2017. According to the Days on Market indicator, the median days for single-family homes was 21 and 19 days for condominiums.