Hawaii Real Estate Central Visit Central Pacific Home Loans


HONOLULU BOARD OF REALTORS®
2009 SECOND QUARTER RESIDENTIAL RESALES STATISTICS

Note: This information was contained within the news release distributed on July 2, 2009.

Released: Thursday, July 2, 2009 

HONOLULU - The Honolulu Board of REALTORS® also released resale figures for the second quarter of 2009. According to the analysis conducted by the Board, using data collected from its MLS system, the statistics are:

2009 Second Quarter Residential Resales Statistics for Oahu

Single Family Home Resales

Number of
Sales
This Quarter
Compared To
Median*
Sales Price
This Quarter
Compared To
2nd Quarter 2009
668
$ 569,500
1st Quarter 2009
$ 570,000
dn 0.1%
2nd Quarter 2008
740
dn 9.7%
$ 636,000
dn 10.5%

Condominium Resales
Number of
Sales
This Quarter
Compared To
Median*
Sales Price
This Quarter
Compared To
2nd Quarter 2009
813
$ 307,500
1st Quarter 2009
$ 300,000
up 2.5%
2nd Quarter 2008
1,121
dn 27.5%
$ 330,000
dn 6.8%

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

During the second quarter, the number of sales declined from one year ago and the median price paid for a single-family home decreased by 10.5 percent and the condominium median price decreased by 6.8 percent. The total dollar volume of sales was $724.0 million in the second quarter, a decrease of $273.2 million, or 27.4 percent, from the $997.2 million in sales achieved in the same quarter last year.

The following table provides the quarterly median prices for the Oahu neighborhood groups (change compares 2nd Quarter 2009 to 1st Quarter 2009):

GEOGRAPHIC AREA SINGLE FAMILY HOMES Change CONDOMINIUMS Change
Entire Island $ 569,500 Down Arrow $ 307,500 Up Arrow
 
Metro Oahu (Town) $ 650,000 Up Arrow $ 305,000 Up Arrow
Diamond Head $ 884,000 Up Arrow $ 427,000 Up Arrow
Hawaii Kai $ 747,500 Down Arrow $ 451,000 Down Arrow
Kailua $ 710,000 Up Arrow $ 392,500 Up Arrow
Kaneohe $ 619,500 Down Arrow $ 365,000 Down Arrow
North Shore $ 754,500 Up Arrow $ 255,000 Down Arrow
Central Oahu $ 566,500 Up Arrow $ 290,000 Down Arrow
Leeward Coast $ 277,000 Down Arrow $ 135,000 Up Arrow
Ewa Plain $ 425,000 Down Arrow $ 275,000 Down Arrow
Makakilo $ 490,000 Down Arrow $ 245,700 Up Arrow
Waipahu $ 520,000 Up Arrow $ 270,000 Down Arrow
Pearl City $ 539,400 Down Arrow $ 290,000 Up Arrow

The public is encouraged to visit the Board's Internet web site at www.HiCentral.com to see what's happening in the housing market. The public has the ability to search through 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. 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 1,600 boards of REALTORS® in the nation and, with over 5,500 members, the largest trade organization 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 pledged to adhere to a strict Code of Ethics and Standards of Practice. For more information, call (808) 732-3000 or visit 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.)

For further information about recent activity in your specific neighborhood, check out the information available on the Honolulu Board of REALTORS® website www.HiCentral.com or contact a REALTOR® in your area.



Honolulu Board of REALTORS 1136 12th Avenue, Suite 200 Honolulu, Hawaii 96816 USA
Phone: 808-732-3000 Fax: 808-732-8732 Email: hbradmin@hicentral.com

1995-2014 Honolulu Board of REALTORS®. All rights reserved. Privacy Policy. Information herein deemed reliable but not guaranteed. Note: Honolulu Board of REALTORS® receives inquiries seeking professional advice; however the Honolulu Board of REALTORS® staff is not qualified, nor licensed, by the state of Hawaii to properly address real estate or legal issues. For questions concerning these issues, consult with either the Hawaii Real Estate Commission, your Principal Broker, or an Attorney.