The May 2008 numbers are in.
Single Family Home Sales volume is down from the period last year, but median prices are making a rebound. Prices at the 2007 levels.
Condominium Sales had a similar drop in volume while the median price has shown a modest increase.
With interest rates still holding, buyers should see it a good time to take advantage of the market conditions in most areas.
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For the Month of May 2008 |
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OAHU SINGLE FAMILY HOME RESALES |
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Number of Sales |
This Month Compared to |
Median Sales Price |
This Month Compared to |
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May 2008 |
252 |
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$649,500 |
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April 2008 |
256 |
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$639,000 |
+1.6% |
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May 2007 |
357 |
-29.4% |
$650,000 |
-0.1% |
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OAHU CONDOMINUM RESALES |
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Number of Sales |
This Month Compared to |
Median Sales Price |
This Month Compared to |
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May 2008 |
382 |
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$337,300 |
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April 2008 |
384 |
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$327,000 |
+3.1% |
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May 2007 |
543 |
-29.7% |
$325,000 |
+3.8% |
*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: www.HawaiiRandy.com
Randy looks like the number of sales are way off, but the median price is holding very nicely.
Like the picture. I never think of Hawaii as a City, I always seem to picture it as one big beach with lots of pineapples .......... LOL
George - Sales volume is definitely down. The supply has stayed consistant with the demand in most areas. You would not know that from reading hte newspaper.
Randy.....is this the time of year sales go down and what would be the cause?
This is our busier time of year. We had record volume the previous years. We are just in a more normal market. Prices have held though.