HONOLULU — Oahu homebuyers closed on an increased number of both single-family homes and condominiums as median prices remained stable in December 2016 according to resales figures released by the HBR. According to the analysis conducted by the Board, using data collected from its computerized Multiple Listing Service (MLS) system, the statistics are:
During December 2016, sales of single-family homes rose by 14.8 percent and condominiums rose by 23.8 percent from December 2015. The median price paid for single-family homes in December 2016 increased by 4.3 percent from the same month last year to $730,000, while the median price for condos increased by one percent to $390,000. According to the Days on Market indicator, the median days for both single-family homes and condominiums was 18.
“December is typically a slower month for home buying, but that wasn’t the case in 2016 and home sales ended the year on a strong note with double-digit increases for both single-family homes and condos,” said Kalama Kim. “While inventory remained relatively flat from last year, we’re encouraged by the increases in pending sales for both categories with single-family homes up more than 15 percent and condos at just over 20 percent. Those should lead to strong sales figures in next few months once the transactions close.”
Annual sales figures were also released, comparing the number home sales and prices in Oahu for single family homes and condos. Below are the 2016-2015 real estate market comparisons: