HONOLULU MONTHLY MARKET STATS

Makaha

HONOLULU HOUSING MARKET CONTINUES STRONG PERFORMANCE IN JULY, ACCORDING TO HONOLULU BOARD OF REALTORS®

HONOLULU — The Honolulu Board of REALTORS® released resale figures today for the month of July 2015. 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

July 2015 337

July 2014 300

This Month Compared To

12.3%

Median* Sales Price

$710,000

$683,500

Median* Sales Price

$350,000

$351,750

This Month Compared To

3.9%

This Month Compared To

-0.5%

Condominium Resales

Number of Sales

July 2015 501

July 2014 444

This Month Compared To

12.8%

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

During July 2015, sales of single-family homes increased by 12.3 percent from July 2014, while condominium sales increased by 12.8 percent compared to July 2014. The median price paid for single- family homes in July 2015 increased by 3.9 percent from the same month last year to $710,000. The median price for condominiums decreased by half a percent from July 2014 to $350,000. According to the Days on Market indicator, the median days on market for single-family homes was 16 days, while the median days on market for condominiums was 24 days.

―July continued the healthy trend in housing sales that we saw in the previous month,‖ said Jack Legal, president of the Honolulu Board of REALTORS®. ―We were pleased to see strong sales of more affordable housing, primarily involving the condo market. There were 256 condos sold that were priced below $350,000 compared to 221 last July – that’s up nearly 16 percent. About a third of these condos were found in four neighborhoods: Makaha and Makakilo in West Oahu, and Makiki and Ala Moana. It’s encouraging to see more sales of affordable condos, particularly those close in the urban core.‖

The public is encouraged to visit http://www.hicentral.com to see what’s happening in the housing market. Consumers have the ability to browse 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, and 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 more than 5,500 members, it is 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 http://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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