Wednesday, September 7, 2011

Honolulu Board of Realtors Releases August 2011 Residential Resale Statistics

The Honolulu Board of Realtors released their August 2011 Residential Resale Statistics.

In the Single Family Home market, the Year to Date median price is down to $570,000 from $595,000 last year.  The Condominium and Townhouse market is also slightly down to $300,000 from $304,900.  The lower prices helps bring the Affordability Index slightly up in both markets.

Inventory is down in both markets compared to August of 2010.  Single Family Homes have 6.1 *6.2 months of remaining inventory, down 12.1%.  Condominiums and Townhouses have *5.8 months of remaining inventory, down 11.4%.  The lower inventory may keep the asking prices some what stable.

Pending sales statistics are up in both markets.  This shows that activity is higher than it was the same time last year.

If you are curious to check how your local neighborhood is doing in comparison, view this Honolulu Board of Realtors August 2011 Local Market Updates Report [PDF].

Source:  Honolulu Board of Realtors August 2011 Monthly Indicators Report [PDF]. *Note reports were "updated" 9/7/11 AM. As of 1230PM, SFH inventory figure reads 6.2 months.  I am not sure where else there may have been discrepancies in the report.
Source:  Honolulu Board of Realtors August 2011 Housing Supply Outlook [PDF].

All information deemed reliable, but not guaranteed.

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Rick Nakama, REALTOR® RB-20356
Honolulu Real Estate

Rick Nakama Realty LLC
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