Released: Wednesday, October 18, 2006
The Honolulu Board of REALTORS® released resale figures today for
the third quarter of 2006. According to the analysis conducted by the
Board, using data collected from its computerized Multiple Listing Service
(MLS) system, the statistics are:
|
Third Quarter 2006 Residential Resales Statistics
for Oahu
Single Family Home Resales
|
|
Number of
Sales
|
This Quarter
Compared To
|
|
Median*
Sales Price
|
This Quarter
Compared To
|
| 3rd Quarter, 2006 |
1,089
|
|
|
$635,000
|
|
| 2nd Quarter, 2006 |
|
|
|
$640,000
|
dn 0.8%
|
| 3rd Quarter, 2005 |
1,324
|
dn 17.7%
|
|
$615,000
|
up 3.3%
|
Condominium Resales
|
|
Number of
Sales
|
This Quarter
Compared To
|
|
Median*
Sales Price
|
This Quarter
Compared To
|
| 3rd Quarter, 2006 |
1,559
|
|
|
$315,000
|
|
| 2nd Quarter, 2006 |
|
|
|
$305,000
|
up 3.3%
|
| 3rd Quarter, 2005 |
2,286
|
dn 31.8%
|
|
$280,000
|
up 12.5%
|
*Median price means half the prices were above and half below
the given price.
|
During the third quarter, the number of sales declined
from last year, but a price record was again posted for condominiums.
The total dollar volume of sales was $1.447 billion in the third quarter,
a decrease of $363 million, or 20 percent, from the record $1.810 billion
in sales achieved in the same quarter last year.
The Median Prices shown in the chart below are the prices
paid for existing residential properties reported sold through our Multiple
Listing Service (MLS) system during the stated time period. The columns
labeled Change indicate the direction of price change from the prior
time period (NC is no change). The following table provides the quarterly
median prices for the Oahu neighborhood groups.
|
| GEOGRAPHIC AREA |
SINGLE FAMILY HOMES |
Change |
CONDOMINIUMS |
Change |
| Entire Island |
$ 635,000 |
 |
$ 315,000 |
 |
| |
| Metro Oahu (Town) |
$ 742,000 |
|
$ 310,000 |
|
| Diamond Head |
$ 849,000 |
|
$ 562,500 |
|
| Hawaii Kai |
$ 849,000 |
|
$ 562,500 |
|
| Kailua |
$ 808,800 |
|
$ 420,000 |
|
| Kaneohe |
$ 730,000 |
|
$ 370,000 |
|
| North Shore |
$ 865,000 |
|
$ 323,500 |
|
| Central Oahu |
$ 580,000 |
|
$ 305,000 |
|
| Leeward Coast |
$ 361,000 |
|
$ 179,000 |
|
| Ewa Plain |
$ 534,000 |
|
$ 307,300 |
|
| Makakilo |
$ 632,000 |
|
$ 319,500 |
|
| Waipahu |
$ 565,000 |
|
$ 300,000 |
|
| Pearl City |
$ 610,000 |
|
$ 290,000 |
|
Median Sales Price
means the midpoint of sales prices, where half of the sales were at
prices above the given amount and half were below.
(Click HERE
for the most recent ANNUAL prices.)
Click OAHU MAP to view the geographical
references used above.
The Honolulu Board of REALTORS® is celebrating its
84th year of service to Oahu and is one of the largest of 1,500 boards
of REALTORS® in the nation. With over 6,000 members, it is also
the largest trade organization on Oahu. Membership is available to
licensed real estate brokers and agents who agree to adhere to a strict
Code of Ethics. 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.)
|
