December 4, 2008

November Oahu Real Estate Stats

During November, sales of 170 single-family homes and 201 condominiums were reported through the Board’s MLS, decreases of 30.6 percent for single-family homes and 47 percent for condominiums, compared to the same month last year. This brings total single-family home sales on Oahu to 2,547 for the first eleven months of 2008, a decrease of 24.8 percent over the same time period one year ago. Total condominium sales through November were 3,690, a 28.3 percent decrease from last year. The median prices paid for island properties from January through November 2008 were $623,500 and $325,000, respectively, a decrease of 3.3 percent for single-family homes from the same time period in 2007 and no change for condominiums. The total dollar sales volume generated in the housing market for the first eleven months of this year was $3.447 billion, a decrease of 25.9 percent, or $1.203 billion, compared to the $4.650 billion produced one year ago.