Released: Tuesday, February 2, 2010 HONOLULU - The Honolulu Board of REALTORS® released resale figures today for the month of January. According to the analysis conducted by the Board, using data collected from its computerized Multiple Listing Service (MLS) system, the statistics are: January 2010 Residential Resales Statistics for Oahu
Single Family Home Resales | | | Number of
Sales | This Month
Compared To | | Median*
Sales Price | This Month
Compared To | | January 2010 | 162 | | | $ 597,500 | | | December 2009 | | | | $ 550,000 | up 8.6% | | January 2009 | 122 | up 32.8% | | $ 539,500 | up 10.8% |
Condominium Resales | | | Number of
Sales | This Month
Compared To | | Median*
Sales Price | This Month
Compared To | | January 2010 | 227 | | | $ 299,000 | | | December 2009 | | | | $ 300,000 | dn 0.3% | | January 2009 | 159 | up 42.8% | | $ 305,000 | dn 2% | | *Median price means half the prices were above and half below the given price. |
During January, sales of 162 single-family homes and 227 condominiums were reported through the Board's MLS, an increase of 32.8 percent for single-family homes and an increase of 42.8 percent for condominiums, compared to the same month last year. The median prices paid for island properties in the January was $597,500 for single-family homes and $299,000 for condominiums, an increase of 10.8 percent for single-family homes and a decrease of 2 percent for condominiums from January 2009. The year-to-date total dollar sales volume generated in the housing market through January was $190.7 million, an increase of 31 percent ($45 million), compared to the $145.6 million produced one year ago. "January's sales numbers for both single-family homes and condominiums are very encouraging for the Oahu real estate market," said Brian Benton, President of the Honolulu Board of REALTORS®. "Competitive pricing, current inventory levels, and the extension of the federal tax credit seem to be turning house hunters into first time homebuyers." |