DISTINCTIVE HOMES HAWAII - HAWAII PROPERTY REPORT FEBRUARY 2012
The Honolulu Board of Realtors releases monthly statistics updating local agents and residents of the real estate market trends of today versus yesterday or "yester-year" for that matter. According to the "Monthly Housing Statistics" of February 2012, the real estate market seems to be looking up! For single family homes, the number of closed sales in February 2012 has increased 19.9% from the number of closed sales in February 2011. This past February 2012 recorded 217 closed sales versus 181 closed sales for February 2011. In relation to this statistic, the median sales price of a single family home is up 9.6% from those in 2011. The median sales price of a single family home in February 2011 stood at $570,000, whereas this past February the median sales price averaged at $625,000. In addition homes listed for sale this past February 2012 sat on the market almost 50% shorter than homes listed in February 2011. These are all positive numbers for buyers and sellers in regards to single family homes this year!
The statistics for condos does not share quite the same increase in numbers. Condos seem to be averaging the same as last year, except numbers are a little lower. The number of closed sales for condos this February 2012 stood at 227, whereas in February 2011 the number of closed sales totaled 295. Second, the median sales price of condos is down by 1.6%, a hair under the sales price of 2011. February 2012 condo sales prices averaged around $315,000, just $5,000 less than the $320,000 average of February 2011. For buyers and sellers relative to condos listed on the market, these numbers display neither good nor bad. It is impartial, and like the old saying goes...."no news is good news!"
For more statistics on the real estate market trends from this past February 2012, check out the attached documents provided by the Honolulu Board of Realtors.
Mahalo & Make it A Great Day!