Tuesday, November 8, 2011

Honolulu Board of Realtors October 2011 Residential Resale Statistics.

The Honolulu Board of Realtors released the residential resale statistics for October 2011.

Single Family Home Statistics
According to the reports, Single Family Home Sales are down about 2.7%, to 2,429 closed sales, year-to-date.  The Median Sales Price has also dropped from $596,500 to $570,000, a 4.4% decrease.  The Housing Affordability Index has increased to 73, up 10.2% from 66, meaning homes are becoming more affordable according to the index.

Condo/Town House Statistics
The reports for the Condominium/Town House Sales are up about 1.5%, to 3,356.  The Median Sales Price is down slightly from $305,000 to $302,790, a .7% decrease.  The Housing Affordability Index is up to 130, a 6.1% increase.

Inventory in both markets are lower than what was available last year.  There are approximately 5.6 months of remaining inventory in the Single Family Home market and 5.3 months in the Condominium and Town House market.

If you would like to see a breakdown of your local neighborhood's statistics, take a look at the Local Market Update Report [PDF].

HBR Monthly Indicators Report - October 2011 [PDF]
HBR Housing Supply Outlook - October 2011 [PDF]
HBR Local Market Update - October 2011 [PDF]

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Rick Nakama, REALTOR® RB-20356
Honolulu Real Estate

Rick Nakama Realty LLC
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