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* @copyrightCopyright (C) 2005 - 2012 Open Source Matters, Inc. All rights reserved.
* @licenseGNU General Public License version 2 or later; see LICENSE.txt
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* Content Component Query Helper
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* @packageJoomla.Site
* @subpackagecom_content
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* Translate an order code to a field for secondary category ordering.
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* @paramstring$orderDateThe ordering code for the date.
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* @since1.5
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* Content Component Query Helper
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* @static
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* @subpackagecom_content
* @since1.5
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/**
* Translate an order code to a field for secondary category ordering.
*
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* @paramstring$orderDateThe ordering code for the date.
*
* @returnstringThe SQL field(s) to order by.
* @since1.5
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?>
SINGLE FAMILY HOME SALES ON OAHU UP IN OCTOBER
Home Prices Hit Record High
Released: November 2, 2004
HONOLULU, HAWAII — Today the Honolulu Board of REALTORS® released its resale figures for the month of October. According to the analysis conducted by the Board, using data collected from its computerized Multiple Listing Service (MLS) system:
| Single Family Home Resales |
|
Number of
Sales |
This Month
Compared To |
|
Median*
Sales Price |
This Month
Compared To |
| October, 2004 |
441 |
|
|
$ 485,000 |
|
| September, 2004 |
|
|
|
$ 475,000 |
up 2.1% |
| October, 2003 |
380 |
up 16.1% |
|
$ 399,300 |
up 21.5% |
| Condominium Resales |
|
Number of
Sales |
This Month
Compared To |
|
Median*
Sales Price |
This Month
Compared To |
| October, 2004 |
665 |
|
|
$ 218,000 |
|
| September, 2004 |
|
|
|
$ 219,000 |
dn 0.5% |
| October, 2003 |
669 |
dn 0.6% |
|
$ 185,000 |
up 17.8% |
| Click here to view October 2004 Resales Charts. |
| *Median price means half the prices were above and half below the given price. |
“The Oahu housing market remains strong – especially single family home sales – and prices for single family homes hit an all-time high last month,” said Judith Kalbrener, President of the Honolulu Board of REALTORS®. “All of this is good news for Hawaii, as it signals increased real estate value for both shoppers and buyers.”
There were a total of 441 single family homes and 665 condominiums reported sold in October through the Board’s MLS system; these sales represent an increase of 16.1% since one year ago for single family homes, and a small decrease in condominium sales. On a year-to-date basis, sales for the first ten months of 2004 are 3,910 single family homes and 6,559 condominiums, sales gains of 6.4% and 13.7%, respectively. This compares to the same time period in 2003 of 3,675 and 5,769 dwellings sold.
The median price paid for a single family home in October was $485,000, another new record high, and $218,000 for a condominium. The year-to-date dollar volume of sales for the first ten months was $3,919 million, compared to last year’s $2,908 million at the same point in time, an increase of more than $1 billion, or 34.8%.
Harvey Shapiro, Research Economist at the Board of REALTORS®, said, “Single family home resales bounced back this month, after posting a small deficit in September, and the median price of $485,000 was the highest ever on Oahu. Condominium resales, however, encountered a second month of slight decline, but prices paid for condominiums remain at record levels.”
Shapiro continued, “To see what the future may hold, an analysis of the pending and contingent sales that occurred during October appears to predict that sales should be robust into the last two months of 2004, with prices maintaining their advance.”
The public is encouraged to visit the Board’s Internet web site at http://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.
The Honolulu Board of REALTORS® is celebrating its 82nd year of service to Oahu and is one of the largest of 1,500 boards of REALTORS® in the nation. It is also the largest trade organization on Oahu. Membership, which numbers approximately 5,000, is available to licensed real estate brokers and agents who agree to adhere to a strict Code of Ethics. (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 two and four months.)
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