Released: Tuesday, November 3, 2009
HONOLULU - Sales of single-family homes were up in October according to resale figures released today 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:
October 2009 Residential Resales Statistics for Oahu
During October, sales of 281 single-family homes and 381 condominiums were reported through the Board's MLS, increases of 15.6 and 20.5 percent, respectively, compared to the same month last year.
This brings total single-family home sales on Oahu to $1.447 billion for the first ten months of 2009, a decrease of 23.9 percent over the same time period one year ago.
Total condominium sales through September were $940.43 million, a 30.4 percent decrease from last year.
The median prices paid for island properties in the first ten months of 2009 were $575,000 for single-family homes and $300,000 for condominiums, decreases respectively of 8.0 percent and 7.7 percent from the same time period in 2008.
The year-to-date total dollar sales volume generated in the housing market through October was $2.388 billion, a decrease of 26.6 percent, or $867 million, compared to the $3.255 billion produced one year ago.
"The current rate of sales for both single-family homes and condominiums were both slightly up in October, which is truly encouraging in light of the overall economy," said Sandra "Sam" Bangerter, president of the Honolulu Board of REALTORS®. "The median prices for single-family homes were up a bit and down for condominiums, but still within relatively stable price ranges. The first-time homebuyer federal tax credit has been helpful in raising buyer awareness."
Statistics are courtesy of the Honolulu Board of REALTORS®.
Below is a graph showing the Zillow market trend since 2005!
