Released: Wednesday, January 10, 2007
The Oahu housing market stabilized during 2006 according the 2006 fourth
quarter and annual resales statistics released by the Honolulu Board
of REALTORS®. According to the analysis conducted by the Board,
using data collected from its computerized Multiple Listing Service
(MLS) system, the statistics are:
|
Fourth 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
|
| 4th Quarter, 2006 |
935
|
|
|
$620,000
|
|
| 3rd Quarter, 2006 |
|
|
|
$635,000
|
dn 2.4%
|
| 4th Quarter, 2005 |
1,093
|
dn 14.5%
|
|
$620,000
|
No Change
|
Condominium Resales
|
|
Number of
Sales
|
This Quarter
Compared To
|
|
Median*
Sales Price
|
This Quarter
Compared To
|
| 4th Quarter, 2006 |
1,034
|
|
|
$315,000
|
|
| 3rd Quarter, 2006 |
|
|
|
$315,000
|
No Change
|
| 4th Quarter, 2005 |
1,783
|
dn 26.9%
|
|
$300,000
|
up 5.0%
|
*Median price means half the prices were above and half below
the given price.
|
During the fourth quarter, the number of sales declined
from 2005 and the median prices were stable. The total dollar volume
of sales was $1.209 billion in the fourth quarter of 2006, a decrease
of $253 million, or 17.3 percent, from the $1.462 billion in sales achieved
in the same quarter the previous 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 |
$ 620,000 |
 |
$ 315,000 |
NC |
| |
| Metro Oahu (Town) |
$ 675,000 |
|
$ 305,000 |
|
| Diamond Head |
$ 957,000 |
 |
$ 480,000 |
|
| Hawaii Kai |
$ 880,300 |
|
$ 552,500 |
|
| Kailua |
$ 791,300 |
|
$ 390,000 |
|
| Kaneohe |
$ 707,000 |
|
$ 395,000 |
|
| North Shore |
$ 610,000 |
|
$ 455,500 |
|
| Central Oahu |
$ 587,000 |
|
$ 310,000 |
|
| Leeward Coast |
$ 381,500 |
|
$ 184,500 |
|
| Ewa Plain |
$ 520,500 |
|
$ 284,300 |
|
| Makakilo |
$ 591,000 |
|
$ 314,000 |
|
| Waipahu |
$ 585,500 |
|
$ 285,000 |
|
| Pearl City |
$ 605,000 |
|
$ 305,000 |
|
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.
Established in 1922, the Honolulu Board of REALTORS®
is one of the largest of 1,600 boards of REALTORS® in the nation
and, with over 6,000 members, the largest trade organization 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 pledged 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.)
|
