Oahu Real Estate Sales Activity – January 2016

January 2016 Honolulu County Real Estate Statistics

Below is the sales activity for the month of January 2016 compared to the same month last year. This covers resale homes for Honolulu County (Oahu) and does not include new construction homes.

With the new federal guidelines for lenders, we are seeing some home purchases taking closer to 60 days with
some lenders, instead of the previous norm of about 45 days.

Single Family Home sales volume and prices are up from the same time last year. Many homes are stillgetting multiple offers, due to extremely low inventory levels in some parts of the island.

Condos and townhouses are seeing increases in the sales volume, while prices have flattened out. Inventory levels are very low in parts of the island. We are seeing increases in prices and multiple offers in those communities. One of our listings in Mililani received 11 offers with just one short noticed open house.

On Oahu, there is still an overall shortage of housing units. Parts of the island, like the planned communities are still seeing heavy competition for entry level homes and are seeing price increases in those price ranges. Parts of the inventory are seeing less sales, mostly in the higher price ranges.



Single Family Home Resales

Month # Sales Median Price Avg. Price
Jan 2016 232 $733,500 $839,976
Jan 2015 210 $675,000 $799,448



Condos/ Townhouse Resales

Month # Sales Median Price Avg. Price
Jan 2016 338 $374,500 $420,376
Jan 2015 286 $381,500 $462,993

 *Median price means half the prices were above and half below the given price. Data was taken from the Honolulu Board of REALTORS® MLS system. It is deemed to be accurate, but not guaranteed.

Oahu Real Estate Sales Activity – September 2015

September 2015 Oahu Real Estate Sales Activity

Below is the sales activity for the month of September 2015 compared to the same month last year. This covers resale homes for Honolulu County (Oahu) and does not include new construction homes.

Single Family Home sales volume and prices and showing increases from this time last year with the numbers bouncing up and down from month to month. Homes in the lower price ranges continue to see brisk sales. Many homes are still getting multiple offers. Low interest rates continue to allow buyers to qualify for higher priced homes than they would normally be able to buy and they are taking advantage of it while they can. With the new federal guidelines for lenders, we may see some temporary delays in getting escrows closed for the next couple of months.

Condos and townhouses are seeing similar patterns as single family homes in the sales volume and numbers of new listings. Although the prices have increased, but at a slower rate than the single family homes. In some areas and types of condos we are still seeing brisk activity, accompanied with price increases.

On Oahu, there is still an overall shortage of housing units. The number of new listings each month although still up from last year is not keeping up with the overall demand. Parts of the island like the planned communities are still seeing heavy competition for entry level homes.

In areas near military bases we saw a very strong summer due to a lot of military rotations. Surprisingly we are still seeing brisk activity in those areas.

Single Family Home Resales

Month # Sales Median Price Avg. Price
Sep 2015 329 $730,000 $866,732
Aug 2015 344 $699,000 $844,596
Sep 2014 318 $678,500 $865,924



Condos/ Townhouse Resales

Month # Sales Median Price Avg. Price
Sep 2015 480 $366,000 $427,659
Aug 2015 428 $354,000 $410,794
Sep 2014 415 $347,000 $421,721

 *Median price means half the prices were above and half below the given price. Data was taken from the Honolulu Board of REALTORS® MLS system. It is deemed to be accurate, but not guaranteed.

Oahu Real Estate Sales Activity – July 2015

Oahu (Honolulu County) Real Estate Sales Statistics July 2015

Below is the sales activity for the month of July 2015 compared to the same month last year. This covers resale homes for Honolulu County (Oahu) and does not include new construction homes.

Single Family Home sales volume and prices and showing a slow steady increases from this time last year. Homes in the lower price ranges have seen brisk sales. Sales volume is up and prices of those homes are up. Many homes are getting multiple offers. The number of new listings have started to show some increases. Low interest rates continue to allow buyers to qualify for higher priced homes than they would normally be able to buy and they are taking advantage of it while they can. We are seeing more sellers entering the market as their home values have come up to appoint where they want to sell.

Condos and townhouses are seeing similar patterns as single family homes in the sales volume and numbers of new listings. Although the prices are somewhat flat. In some areas and types of condos we are still seeing brisk activity, accompanied with price increases.

On Oahu, there is still an overall shortage of housing units. The number of new listings each month although increasing is not keeping up with the overall demand. Parts of the island like the planned communities are still seeing heavy competition for entry level homes.

In areas near military bases we saw a strong summer due to a lot of military rotations. About half of the annual rotations happen during that period, when the children are out of school. Many civilian families also make their move during that same period, for the same reasons.

Single Family Home Resales

Month # Sales Median Price Avg. Price
July 2015 337 $710,000 $858,986
June 2015 324 $700,000 $858,986
July 2014 300 $683,500 $890,425

Condos/ Townhouse Resales

Month # Sales Median Price Avg. Price
July 2015 501 $350,500 $389,595
June 2015 500 $338,500 $380,493
July 2014 444 $351,750 $410,518

*Median price means half the prices were above and half below the given price. Data was taken from the Honolulu Board of REALTORS® MLS system. It is deemed to be accurate, but not guaranteed.

Oahu Real Estate Sales Activity – June 2015

Oahu real estate sales activity - June 2015

Below is the sales activity for the month of June 2015 compared to the same month last year. This covers resale homes for Honolulu County (Oahu) and does not include new construction homes.

Single Family Home sales volume and prices would appear to be leveling from the numbers below. They do not tell the complete story. Homes in the lower price ranges have seen brisk sales. Sales volume is up and prices of those homes are up. Many homes are getting multiple offers. Whiles sales volume is up from last year, the numbers of new listings are down, which will place even more pressure on prices. Higher priced homes are still selling, but at a slower rate, causing the median and average prices to be flat. Low interest rates continue to allow buyers to qualify for higher priced homes than they would normally be able to buy and they are taking advantage of it while they can.

Condos and townhouses are seeing similar patterns as single family homes. Sales volume is up versus the same time last year. New listing are not keeping up with the sales volume. Median and average prices are down, but we are seeing a similar pattern as single family homes. Lower price condos and townhouse are moving at a faster rate than the higher priced ones. Prices are climbing in most areas in lower to medium price ranges, but not as fast as single family homes.

On Oahu, there is still an overall shortage of housing units. The number of new listings each month is not enough to take the pressure off supply shortages. The numbers are a little misleading. Homes of the same type are increasing faster than the averages, but with many first time buyers entering the market the volume of lower priced homes is increased skewing the data a little. Parts of the island like the planned communities are seeing more competition for entry level homes.

In areas near military bases we are seeing increased activity due to a lot of military rotations. The summer months are PCS season. About half of the annual rotations happen during that period, when the children are out of school. Many civilian families make their move during that same period, for the same reasons.

Single Family Home Resales

Month # Sales Median Price Avg. Price
June 2015 324 $700,000 $858,986
June 2014 303 $700,000 $890,425

Condos/ Townhouse Resales

Month # Sales Median Price Avg. Price
June 2015 500 $338,500 $380,493
June 2014 411 $360,000 $442,484

*Median price means half the prices were above and half below the given price. Data was taken from the Honolulu Board of REALTORS® MLS system. It is deemed to be accurate, but not guaranteed.