Oahu Home Sales Rise in November
Homebuyers closed on an increased number of both single-family homes and condominiums in November according to resales figures released today by the Honolulu Board of REALTORS®. According to the analysis conducted by the Board, using data collected from its computerized Multiple Listing Service (MLS) system, the statistics are:
Single-Family Home Resales
| Number of Sales | Median Sales Price | |
|---|---|---|
| November 2017 | 332 12.9% | $773,500 3.1% |
| November 2016 | 294 | $750,000 |
Condominium Resales
| Number of Sales | Median Sales Price | |
|---|---|---|
| November 2017 | 501 19.0% | $405,000 2.5% |
| November 2016 | 421 | $395,000 |
During November 2017, sales of single-family homes rose by 12.9 percent compared to November 2016, while condominium sales increased by 19 percent compared to the same time period. The median price paid for single-family homes in November 2017 increased by 3.1 percent from the same month last year to $773,500. The median price for condominiums increased by 2.5 percent from November 2016 to $405,000. According to the Days on Market indicator, the median days on market for single-family homes and condominiums was 16 and 20, respectively.
“The last quarter of the year has traditionally been a slower time for sales, however November demonstrated continued strength in the market with the double-digit increases for both single-family homes and condominiums,” said Sue Ann Lee, Honolulu Board of REALTORS® president. “Pending sales in both housing categories also increased last month. While we’re encouraged by the increase in new condominium listings, there still needs to be more inventory for single-family homes to meet the need for housing.”