Note: The entry below as posted on Harvey Shapiro's "Island Real Estate Blog" on January 6, 2009, click HERE. To view the December 2008 and 2008 Annual statistics, click HERE.
The Honolulu Board of REALTORS® released resale figures for the fourth quarter of 2008.
Single-Family Homes - 607 sales - down 19.1%
Condominiums - 760 sales - down 34.2%
During the fourth quarter, the number of sales declined from one year ago and the median price paid for a single-family home decreased by 2.4% and the condominium price decreased by 1.1%. The total dollar volume of sales was $727.7 million in the fourth quarter, a decrease of $299.0 million, or 29.7%, from the $1,026.7 million in sales achieved in the same quarter last year.
The following table provides the quarterly median prices for the Oahu neighborhood groups.
| NEIGHBORHOOD |
SINGLE FAMILY |
CONDOMINIUM/APTS |
| Metro Oahu |
$ 689,500 |
$ 317,100 |
| Diamond Head |
$ 975,500 |
$ 415,000 |
| Hawaii Kai |
$ 874,500 |
$ 510,000 |
| Kailua |
$ 715,000 |
$ 427,500 |
| Kaneohe |
$ 629,000 |
$ 365,200 |
| North Shore |
$ 832,500 |
$ 243,500 |
| Central Oahu |
$ 549,500 |
$ 288,000 |
| Leeward Coast |
$ 342,500 |
$ 154,000 |
| Ewa Plain |
$ 457,500 |
$ 299,000 |
| Makakilo |
$ 500,000 |
$ 265,000 |
| Waipahu |
$ 535,000 |
$ 260,000 |
| Pearl City |
$ 602,500 |
$ 295,000 |
For further information about recent activity in your specific neighborhood, check out the information available on the Honolulu Board of REALTORS® website www.HiCentral.com or contact a REALTOR® in your area.
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