Released: Tuesday, March 2, 2010 HONOLULU - Oahu's residential real estate market continue to enjoy strong sales during February, 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: February 2010 Residential Resales Statistics for Oahu
Single Family Home Resales | | | Number of
Sales | This Month
Compared To | | Median*
Sales Price | This Month
Compared To | | 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 | | | Number of
Sales | This Month
Compared To | | Median*
Sales Price | This Month
Compared To | | 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% | | *Median price means half the prices were above and half below the given price. |
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." |