Oahu’s residential real estate market continue to enjoy strong sales during February 2010, according to resale housing 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:
| February 2010 Residential Resales Statistics for OahuSingle Family Home Resales | |||||||||
| Number of Sales |
This Month Compared To |
Median* Sales Price |
This Month Compared To |
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| February 2010 | 157 | $ 570,000 | |||||||
| January 2010 | 162 | down 3.1% | $ 597,500 | down 4.6% | |||||
| February 2009 | 129 | up 21.7% | $ 550,000 | up 3.6% | |||||
Condominium Resales |
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| Number of Sales |
This Month Compared To |
Median* Sales Price |
This Month Compared To |
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| February 2010 | 231 | $ 298,000 | |||||||
| January 2010 | 227 | up 1.7% | $ 299,000 | down 0.33% | |||||
| February 2009 | 160 | up 44.4% | $ 297,000 | up 0.33% | |||||
Click here to view February 2010 Resales Charts. |
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*Median price means half the prices were above and half below the given price.
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During February, sales of 157 single-family homes and 231 condominiums were reported through the Board’s MLS, an increase of 21.7 percent for single-family homes and an increase of 44.4 percent for condominiums, compared to the same month last year. The median prices paid for island properties in the February was $570,000 for single-family homes and $298,000 for condominiums, a decrease of 3.6 percent for single-family homes and an increase of 0.33 percent for condominiums from February 2009. The year-to-date total dollar sales volume generated in the housing market through February was $ 390.5 million, an increase of 39.3 percent or $ 110.1 million, compared to the $ 280.4 million produced one year ago.
“The sales figures for February are very encouraging for Honolulu’s real estate market,” said Brian Benton, President of the Honolulu Board of REALTORS®. “There’s been a great deal of pent up demand from consumers and current market conditions are getting them to get back into the real estate market.”
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.)
