According to the Honolulu Board of REALTORS®, during September 2016, sales of single-family homes were flat compared to September 2015, while condominium sales increased by 6.7 percent compared to September 2015. The median price paid for single-family homes in September 2016 increased by 2.7 percent from the same month last year to $750,000. The median price for condominiums increased by 4.7 percent from September 2015 to $383,250. According to the Days on Market indicator, the median days on market for single-family homes and condominiums was 16 and 20, respectively.
“Oahu’s housing resale market in September indicates that there was no slowdown in demand as the summer came to an end,” said Kalama Kim, 2016 Honolulu Board of REALTORS® President. “While sales of single-family homes were flat compared to last year, the median days on market of just 16 days show homebuyers are still aggressively seeking opportunities. Another indication that demand is still strong are the pending sales figures, which show increases of nearly nine percent for single-family homes and 14 percent for condominiums, compared to last year. We are concerned about a drop in active listings for both single-family homes and condominiums during September, as more inventory is needed to satisfy the demand for housing, which has been the case for some time.”