November Oahu Single Family Home Prices Up Slightly

Real Estate Commentary: November Oahu Single Family Home Prices Up Slightly

The median price for Oahu single family homes median sales price for November 2011 was $58,000 up one percent from 2010; condo prices dropped by 5.5 percent at $295,000; according to the Honolulu Board of REALTORS analysis, using data collected from the Multiple Listing Service (MLS) system.

 

Distinctive Homes Hawaii brokerage firm looks ahead to help our buyers and sellers get the most value out of their property ownership. From our review of Novemeber stats there is a good indication that 2012 could be a more stable real estate market for Oahu. And even with bank loans drying up for middle income American, we've seen cash flow toward real estate investment and new ownership in the Waikiki and Honolulu areas.

 

STATS:

Single Family November 2011: 251 homes $580,000

Single Family November 2010: 248 homes +1.2% $574,500 +1.0%

Condos November 2011: 333 sales  $295,000

Condos November 2010 316 + 5.4% $312,000 -5.4%

Median price means half the prices were above and half below the given price.

 

During November, sales of 251 single-family homes and 333 condominiums were reported through the Board’s MLS, increases of 1.2 percent and 5.4 percent, respectively, for single-family homes and condominiums from November 2010.

 

The median price paid for island properties in November was $580,000 for single-family homes and $295,000 for condominiums, an increase of 1 percent for single family homes and a decrease of 5.4 percent for condominiums compared to the same month last year.

 

Source: http://www.hicentral.com/pdfs/HBR.NRWeb.1111Stats.pdf