Average prices up 6.7% for Hawaii homes in 2013
According to the latest Honolulu Board of Realtors report, the home median sales price on Oahu has increased 4.8% to $650,000 during the year of 2013. Average sales price was up 6.7% to $804,933. Last year the amount of homes sold rose to 3,312. Listings were on the market for a median of just 20 days; that’s a dramatic 33.3% drop in the time required to sell! Months of remaining inventory stood at 2.7 months to sell in December indicating a strong seller’s market.
For condos closed sales rose 11.8% to 4,874. Median sales prices also rose 4.6% to $332,000! The average sales prices went up 5.1% to $393,396. Similar to the family homes, condos were on the market for a median of 21 days dropping by 32.3%! The months of remaining inventory stands at 2.9 months.
Click here to read full report from the Honolulu Board of Realtors