The Honolulu Board of Realtors released the July 2011 Residential Real Estate Statistics this morning.
The Median Price of Single Family Home resales has dropped slightly from $604,500 to $591,000. The year to date results for the days on market is up slightly from 32 days to 36 days while current available inventory is 12.5% lower than what was available last July. There is about 6 months of remaining inventory in the Single Family Home market.
Condominium and Town House results are similar. The Median Price for July 2011 is $277,000, down from $300,000 in July 2010. The year to date results for the days on market is up to 40 from 31 while current available inventory is 10.8% lower than what was available last July. There is about 5.9 months of remaining inventory in the Condominium / Town House market.
So far this year there were 1,630 Single Family Homes and 2,316 Condominium / Town Homes sold. These figures are 8.3% and 3.1% less than last year, respectively.
Source:
Honolulu Board of Realtors July 2011 Statistics [PDF]
Curious to know how your local neighborhood is doing in comparison? Ask me or if you prefer digging through the numbers, take a look at the
Local Market Updates July 2011 Report [PDF].
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