The Honolulu Board of Realtors released the residential resale statistics for the month of November 2011.
The median price for Single Family Homes, $580,000, is up slightly from the same time last year. The number of sales is also slightly higher at 251 sales during the month of November. The average number of days on market is down to 35 days compared to 40 days during November 2010. The inventory is also lower with 5.6 months of inventory remaining compared to 6.5 months last year.
The median price for Condominiums and Town Houses, $295,000, is slightly lower than last year. The number of sales are up to 333 units and the number of days on market is down to 42 compared to 45 days during November 2010. There are 5.5 months of remaining inventory left compared to 6.8 months in 2010.
New listings in both Single Family Homes and Condominium markets are down quite a bit. This is causing the tightening of inventory and could possibly lead to higher median sales prices in near future.
If you are curious to see how your local neighborhood's statistics are in comparison to the rest of the island, take a look at the
Local Neighborhood Statistics [PDF].
Source: Honolulu Board of Realtors
November 2011 Monthly Indicators Report [PDF].
November 2011 Housing Supply Overview [PDF].
No comments:
Post a Comment