Oahu home and condominium sales were up in December, according to the latest report from the Honolulu Board of Realtors.
December single-family home sales were up by 8.6 percent compared to the same month in 2011. Condo sales were up by 20.4 percent during those same time periods.
However, the median single-family home price went down from $605,000 in December 2011 to $600,000 last month. The median condo price went up 17.5 percent comparing numbers year-over-year. In December 2011, the median condo price was $285,000. Last month, it was $335,000.
According to the Days on Market indicator, sales of both single-family homes and condominiums were accepted at a faster pace last month compared to a year ago, with single-family properties listing for 30 days and condominiums listing for 26 days.
"December was another great month for the local real estate market, with the number of closed sales and the median sales price for condominiums experiencing double-digit growth," said Kevin Miyama, president of the Honolulu Board of Realtors. "While the median sales price for single-family homes was relatively flat, the number of overall sales increased in what is typically a slower time in the real estate market. All of these are great indicators of our continued recovery."
The public is encouraged to visit the Board’s Internet web site at www.HiCentral.com to see what's happening in the housing market. The public has the ability to search through Oahu single-family home and condominium listings, available for sale and for rent, and to see a comprehensive guide of homes that will be open to visit this Sunday. All searches can be done by geographic location, price range or both. HiCentral.com provides useful information about buying and selling real estate in Hawaii.