The February 2008 numbers are in.
Single Family Home sales began to slow the end of the year and continued on January and February. Even though sales volume is considerably off, median sales prices have stayed fairly stable.
Condominium sales had a drop in volume while the median price has shown increase.
With interest rates lowering, buyers should see it a good time to take advantage of the market conditions in most areas.
For the Month of February 2008 | ||||
| ||||
OAHU SINGLE FAMILY HOME RESALES | ||||
| Number of Sales | This Month Compared to | Median Sales Price | This Month Compared to |
February 2008 | 163 |
| $599,000 |
|
January 2008 | 228 |
| $600,000 | -0.2% |
Febrauary 2007 | 272 | -40.1% | $614,500 | -2.5% |
| ||||
OAHU CONDOMINUM RESALES | ||||
| Number of Sales | This Month Compared to | Median Sales Price | This Month Compared to |
February 2008 | 321 |
| $335,000 |
|
January 2008 | 324 |
| $324,000 | +3.4% |
Febrauary 2007 | 402 | -20.1% | $320,000 | +4.7% |
*These numbers were taken from the Honolulu Board of Realtors MLS system and Old Republic Title. They are deemed to be accurate, but not guaranteed.
You can find out more about real estate in Hawaii at: http://www.hawaiirandy.com/
