Oahu's condominium market has picked up quite a bit in December. The median price was at $335,000, a 17.5% increase. There were 401 closed sales which was a 20.4% increase. The average sales price of a condominium during the month of December on Oahu was $393,083, a 19.3% increase.
The reflects the unusually active real estate market that I have been encountering out in the field. There are always sales that are pressured to close by the end of the year, but usually activity is quieter during the November and December holidays. This was definitely not the case for me during the last two months. That increased activity has continued through to January so it does not seem like it was just a bunch of people that wanted to close a transaction by the end of 2012.
|Hawaii Association of REALTORS® chart of 2012's year over year statistics.|
The median sales price for single family homes is up 8.47%, at $624,908, from 2011's statistics. The low in the last 5 years was in 2009, a median price of $573,750.
The condominium market is also showing an increase. The median sales price for 2012 is up 2.48%, at $316,021. The low in the last 5 years was in 2010, a median price of $305,667.
Rick Nakama, REALTOR® - RickNakama@GMail.com - (330)282-6761 - Facebook - Connect