HONOLULU — The Honolulu Board of REALTORS® released resale figures today for the month of November. According to the analysis conducted by the Board, using data collected from its computerized Multiple Listing Service (MLS) system, the statistics are:

Single-Family Home Resales
  Number of 
Sales
This Month
Compared To
Median* 
Sales Price
This Month 
Compared To
November 2013 296   $684,000  
November 2012 290 +2.1% $640,000 +6.9%

 

Condominium Resales
  Number of 
Sales
This Month
Compared To
Median* 
Sales Price
This Month 
Compared To
November 2013 407   $330,000  
November 2012 363 +12.1% $325,000 1.5%

*Median price means half the prices were above and half below the given price.

 

During November, sales of single-family homes increased by 2.1 percent and condominiums increased by 12.1 percent from November 2012. The median price paid for single-family homes in November increased 6.9 percent over the same month last year to $684,000. The median price for condominiums increased 1.5 percent from November of last year to $330,000. According to the Days on Market indicator, single-family homes were on the market for an average of 17 days and condominiums for 24 days.

“We’re pleased to see these positive numbers, as they are indicative of the market’s continued strength as we head into 2014,” said Kevin Miyama, president of the Honolulu Board of REALTORS®. “It will be interesting to see where the market goes, especially when you consider that this month’s median singlefamily home price is just $1,000 short of our all-time high.”

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 1,500 boards of REALTORS® in the nation and, with over 5,300 members, one of the largest trade organizations 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 who pledge 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.)

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