HONOLULU BOARD OF REALTORS® RELEASES
MARCH RESIDENTIAL RESALES STATISTICS
The Honolulu Board of REALTORS® released resale figures on April 7th for the month of March. 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
| Time Period | Number of Sales | This Month Compared To | Median* Sales Price | This Month Compared To |
| March 2011 | 249 | - | $548,000 | - |
| March 2010 | 255 | -2.4% | $600,000 | -8.6% |
Condominium Resales
| Time Period | Number of Sales | This Month Compared To | Median* Sales Price | This Month Compared To |
| March 2011 | 331 | - | $315,000 | - |
| March 2010 | 360 | -8.1% | $310,000 | +1.6% |
*Median price means half the prices were above and half below the given price.
During March, sales of 249 single-family homes and 331 condominiums were reported through the
Board’s MLS, decreases of 2.4 percent and 8.1 percent, respectively, for single-family homes and
condominiums from March 2010. The median price paid for island properties in March was $548,500 for
single-family homes and $315,000 for condominiums, a decrease of 8.6 percent for single-family homes
and a 1.6 percent increase for condominiums, compared to the same month last year. According to the
Days on Market indicator, sales closed at a slower pace last month compared to a year ago with single-family
homes listing for 41days up from 34 and condominiums listing for 46 days up from 36.
“The Oahu median prices for both single-family homes and condominiums are still constant, while the
sales volume for the market has slowed,” said Joyce Nakamura, President of the Honolulu Board of
REALTORS®. “As evidenced in the increase of pending sales, there is a continued demand for residential
properties, especially in the high-end market. The tightened inventory levels and low mortgage interest
rates make it an opportune time for well-qualified buyers to purchase a home.”
** Information courtesy of Honolulu Board of REALTORS®
(This report reflects information about resales of existing properties only and does not include new home
sales. All of the MLS information is compiled from sales reported during the cited months; this data is
known only after closing of escrow. The time delay between the signing of a sales contract and the
closing of escrow is usually between one and three months).
Until next time…All the best!
June Mellor
Your Source for Oahu Real Estate
http://www.realestateofoahu.com/
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