Oahu Market Update - July 2007
Oahu Real Estate - LIVE from Hawaii
http://www.realestateofoahu.com/ - Search Oahu MLS
Wow! Home and condo sales quicken in July! According to resale figures released by the Honolulu Board of Realtors, sales of both single-family homesand condominiums sped up in July with the days on market indicating record paces.
During the month of July, sales of 339 single-family homes and 457 condominiums were reported through the Honolulu Board of Realtor's MLS system. The median price paid in July for a single-family home was $640,000. On the other hand, the median condominium price was $335,000 - a decrease of of 8.2% from July of last year.
While prices for single-family home sales are up, the market saw a 10.6% decrease in the number of homes sold (339 July 2007 vs. 379 sold in July 2006). The same can be said for condominium sales. During the month of July 457 condominiums sold, reflecting an 8.2% decrease compared to 498 sold July of last year.
Overall, these Oahu real estate market statistics reflects a healthy market in which buyers and sellers have a level playing field and both parties can find a happy median to achieve their goals.
Until next time...All the best!
June Mellor - Your Source for Oahu Real Estate
http://www.realestateofoahu.com
* Source for Oahu statistics: The Honolulu Board of REALTORS®
** Stats may or may not include new development sales or private party sales (For Sale By Owners), dependant upon whether those subject properties were entered into the MLS.
