OAHU HOUSING MARKET OFF TO A STRONG START IN 2018
Condominium Median Price Reaches New High
Reported by H onolulu Board of Realtors
HONOLULU (February 6, 2018) — Oahu’s housing market started off strong in 2018 with increases inboth single-family home and condominium median prices in January according to resales figures releasedtoday by the Honolulu Board of REALTORS®. The analysis conducted by the Board using data collectedfrom its computerized Multiple Listing Service (MLS) system show the following statistics:
Single-Family Home Resales
Number of This Month Median* Sales This Month
Sales Compared To Price Compared To
January 20 252 $772,000
January 2017 247 2.0% UP $730,000 5.8% UP
Condominium** Resales
Number of This Month Median* Sales This Month
Sales Compared To Price Compared To
January 2018 374 $430,00
January 2017 378 -1.1% Down $380,000 13.2% UP
*Median price means half the prices were above and half below the given price. **Condominiums also includes townhomes.
During January 2018, the median price paid for single-family homes increased by 5.8 percent from the same month last year to $772,000. The median price for condos increased by 13.2 percent to reach a new record of $430,000, which was previously set in July and September of 2017 at $425,000. The sales of single-family homes rose slightly by 2.0 percent, while condominiums sales decreased by 1.1 percent from January 2017. According to the Days on Market indicator, the median days for single-family homes was 21 and 19 days for condominiums.