January 8, 2009

OAHU Resale Stats December & all of 2008

OAHU real estate – Resale Statistics December 2008**
Resales statistics released by the Honolulu Board of REALTORS computerized Multiple Listing Service (MLS) system, the statistics are:

December 2008 Residential Resale Statistics for Oahu

Single Family Home Resale

December 2008 194 $ 626,500
November 2008 $ 594,500 up 5.4%
December 2007 240 dn 19.2% $ 610,000 up 2.7%

Condominium Resales

December 2008 243 $ 305,000
November 2008 $ 316,200 dn 3.5%
December 2007 353 dn 31.2% $ 320,000 dn 4.7%

December number of sales: 194 single-family homes – 294 condominiums was a decrease of 19.2 percent for single family homes and 31.2 percent for condominiums, compared to 2007 same month. 2008 total for single-family home sales were 2,741 and 3,933 for condominium sales was a decrease of 24.4 percent and 28.5 percent compared to 2007. Oahu median sales price in 2008 were $624,000 for single family homes and $325,000 for condos with a decrease of 3.0 percent for single family and no change in price for condominiums.

Oahu’s annual resale figures for 2008.
They are:
Annual 2008 Residential Resale Statistics for Oahu

Single Family Home Resales
Year / # Sales / Price
2008 2,741 $ 624,000
2007 3,627 dn 26.1% $ 643,500 dn 3.0%

Condominium Resales
Year / # Sales / Price
2008 3,933 $ 325,000
2007 5,499 $ 325,000

*Median price means half the prices were above and half below the given price.

GEOGRAPHIC AREA / SINGLE FAMILY HOME / CONDOMINIUMS
Honolulu real estate (Town) $ 722,500 $ 320,000
Diamond Head real estate $ 936,000 $ 437,500
Hawaii Kai real estate $ 850,000 $ 539,000
Kailua real estate $ 774,500 $ 415,000
Kaneohe real estate $ 663,800 $ 400,000
North Shore real estate $ 797,500 $ 360,500
Central Oahu real estate $ 580,000 $ 307,500
Leeward Coast real estate $ 380,000 $ 154,000
Ewa Plain real estate $ 465,000 $ 299,000
Makakilo real estate $ 560,000 $ 299,000
Waipahu real estate $ 550,000 $ 280,000
Pearl City real estate $ 627,300 $ 302,900