Oahu Housing Sales and Prices Steady in July
Oahu’s housing market remained relatively flat in July according to resales figures released today by the Honolulu Board of REALTORS®. The analysis conducted by the Board using data collected from its computerized Multiple Listing Service (MLS) system show the following statistics:
Single-Family Home Resales
| Number of Sales | Median Sales Price | |
|---|---|---|
| July 2018 | 330 -1.5% | $789,500 +5.3% |
| July 2017 | 335 | $750,000 |
Condominium Resales
| Number of Sales | Median Sales Price | |
|---|---|---|
| July 2018 | 502 +5.7% | $429,500 +1.1% |
| July 2017 | 475 | $425,000 |
In July 2018, the median sales price of single-family homes rose moderately by 5.3 percent from July 2017, while the median price for condominiums increased by 1.1 percent. Sales of single-family homes dipped by 1.5 percent and condominium sales were up by 5.7 percent from the same month last year. According to the Days on Market indicator, the median days for single-family homes was 13 and 18 days for condominiums.
“The market is experiencing a leveling off after last year’s record prices and paces,” said Darryl Macha, president of the Honolulu Board of REALTORS®. “However, new listings for both single-family homes and condominiums on Oahu were up again last month, as were active listings, a positive indicator of steady housing inventory for homebuyers.”
