Note:
This information was contained within the news release distributed
on July 2, 2009.
Released: Thursday, July 2, 2009
HONOLULU - The Honolulu Board of REALTORS® also released resale figures for the second quarter of 2009. According to the analysis conducted by the Board, using data collected from its MLS system, the statistics are:
|
2009 Second Quarter Residential Resales
Statistics for Oahu
Single Family Home Resales
|
|
Number of
Sales
|
This Quarter
Compared To
|
|
Median*
Sales Price
|
This Quarter
Compared To
|
| 2nd Quarter 2009 |
668
|
|
|
$ 569,500
|
|
| 1st Quarter 2009 |
|
|
|
$ 570,000
|
dn 0.1%
|
| 2nd Quarter 2008 |
740
|
dn 9.7%
|
|
$ 636,000
|
dn 10.5%
|
Condominium Resales
|
|
Number of
Sales
|
This Quarter
Compared To
|
|
Median*
Sales Price
|
This Quarter
Compared To
|
| 2nd Quarter 2009 |
813
|
|
|
$ 307,500
|
|
| 1st Quarter 2009 |
|
|
|
$ 300,000
|
up 2.5%
|
| 2nd Quarter 2008 |
1,121
|
dn 27.5%
|
|
$ 330,000
|
dn 6.8%
|
*Median price means half the prices were above and half below
the given price.
|
During the second quarter, the number of sales declined
from one year ago and the median price paid for a single-family home
decreased by 10.5 percent and the condominium median price decreased
by 6.8 percent. The total dollar volume of sales was $724.0 million
in the second quarter, a decrease of $273.2 million, or 27.4 percent,
from the $997.2 million in sales achieved in the same quarter last
year.
The following table provides the quarterly median
prices for the Oahu neighborhood groups (change compares 2nd Quarter
2009 to 1st Quarter 2009):
| GEOGRAPHIC AREA |
SINGLE FAMILY HOMES |
Change |
CONDOMINIUMS |
Change |
| Entire Island |
$ 569,500 |
 |
$ 307,500 |
 |
| |
| Metro Oahu (Town) |
$ 650,000 |
|
$ 305,000 |
|
| Diamond Head |
$ 884,000 |
|
$ 427,000 |
|
| Hawaii Kai |
$ 747,500 |
|
$ 451,000 |
|
| Kailua |
$ 710,000 |
|
$ 392,500 |
|
| Kaneohe |
$ 619,500 |
|
$ 365,000 |
|
| North Shore |
$ 754,500 |
|
$ 255,000 |
|
| Central Oahu |
$ 566,500 |
|
$ 290,000 |
|
| Leeward Coast |
$ 277,000 |
|
$ 135,000 |
|
| Ewa Plain |
$ 425,000 |
|
$ 275,000 |
|
| Makakilo |
$ 490,000 |
|
$ 245,700 |
|
| Waipahu |
$ 520,000 |
|
$ 270,000 |
|
| Pearl City |
$ 539,400 |
|
$ 290,000 |
|
The public is encouraged to visit the Board's Internet
web site at www.HiCentral.com to see what's happening in the housing
market. The public has the ability to search through Oahu single-family
home and condominium listings, available for sale and for rent, and
to see a comprehensive guide of homes that will be open to visit this
Sunday. All searches can be done by geographic location, price range
or both. HiCentral.com provides useful information about buying and
selling real estate in Hawaii.
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 5,500 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.)
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.
