The latest housing market trends in Honolulu

Current Housing Market Trends

OAHU HOUSING SALES SURGE IN MAY HONOLULU (June 6, 2017)

Sales of single-family houses and condominiums spiked in May, 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, offer the following statistics:

During May 2017, the number of single-family houses sold increased by 13.5 percent and similarly, condominium sales rose by 13.2 percent compared to May 2016. The median price for single-family houses was $745,000, a 3.6 percent increase from the same time period last year, while condos increased by 9 percent to $406,500. According to the Days on Market indicator, sales of single-family houses and condominiums both closed at 14 days on market, a faster pace compared to last year when single-family houses and condominiums averaged 17 days and 15 days on the market, respectively.



Exerpt from the Honolulu Board of Realtors Market Report. 

Established in 1922, the Honolulu Board of REALTORS® is one of the largest of 1,200 boards of REALTORS® in the nation, and, with more than 6,000 members, is one of the largest trade organizations on Oahu.

Membership is available to licensed real estate brokers, agents, property managers, appraisers, counselors and others engaged in all aspects of the real estate industry who pledge to adhere to a strict Code of Ethics and Standards of Practice. For more information, call (808) 732-3000 or visit www.hicentral.com.

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.