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Released: Tuesday, March 2, 2010
HONOLULU - Oahu's residential real estate market continue to enjoy strong sales during February, according to resale figures released today by the Honolulu Board of REALTORS®. According to the analysis conducted by the Board, using data collected from its computerized Multiple Listing Service (MLS) system, the statistics are:
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February 2010 Residential Resales Statistics for Oahu
Single Family Home Resales |
|
Number of
Sales |
This Month
Compared To |
|
Median*
Sales Price |
This Month
Compared To |
| February 2010 |
157 |
|
|
$ 570,000 |
|
| January 2010 |
162 |
down 3.1% |
|
$ 597,500 |
down 4.6% |
| February 2009 |
129 |
up 21.7% |
|
$ 550,000 |
up 3.6% |
Condominium Resales |
|
Number of
Sales |
This Month
Compared To |
|
Median*
Sales Price |
This Month
Compared To |
| February 2010 |
231 |
|
|
$ 298,000 |
|
| January 2010 |
227 |
up 1.7% |
|
$ 299,000 |
down 0.33% |
| February 2009 |
160 |
up 44.4% |
|
$ 297,000 |
up 0.33% |
Click here to view February 2010 Resales Charts. |
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*Median price means half the prices were above and half below the given price. |
During February, sales of 157 single-family homes and 231 condominiums were reported through the Board's MLS, an increase of 21.7 percent for single-family homes and an increase of 44.4 percent for condominiums, compared to the same month last year. The median prices paid for island properties in the February was $570,000 for single-family homes and $298,000 for condominiums, a decrease of 3.6 percent for single-family homes and an increase of 0.33 percent for condominiums from February 2009. The year-to-date total dollar sales volume generated in the housing market through February was $ 390.5 million, an increase of 39.3 percent or $ 110.1 million, compared to the $ 280.4 million produced one year ago.
"The sales figures for February are very encouraging for Honolulu's real estate market," said Brian Benton, President of the Honolulu Board of REALTORS®. "There's been a great deal of pent up demand from consumers and current market conditions are getting them to get back into the real estate market." |
