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  • Honolulu Real Estate MARCH 2019 Statistics / Sales Data Published

FOR IMMEDIATE RELEASE
Courtesy/Source: Honolulu Board of REALTORS

Oahu Housing Sales Down in March While New Listings Increase

Honolulu's housing market ended March with a moderate decrease in sales volume, according to resales figures released today by the Honolulu Board of REALTORS®. The analysis conducted by the Board using data collected from its computerized Multiple Listing Service (MLS) system show the following statistics:

Single-Family Home Resales

Number of Sales

Median Sales Price

March 2019

276 -9.5%

$782,500 3.0%

March 2018

305

$760,000

Condominium Resales

Number of Sales

Median Sales Price

March 2019

467 -3.7%

$429,000 -1.4%

March 2018

485

$435,000

During March 2019, the sales of single-family homes declined by 9.5 percent, while condominium sales decreased by 3.7 percent from March 2018. The median price paid for single-family homes increased by 3.0 percent from the same month last year to $782,500, while the median price paid for condos decreased to $429,000, a 1.4 percent drop from last March's record-setting median high of $435,000. New listings ended in positive territory with a 12.8 percent and 3.6 percent increase in newly listed single-family homes and condominiums, respectively. Total active listings of single-family homes increased by 33.6 percent and condominiums were up by 23.3 percent over the same period last year. According to the Days on Market indicator, the median days for single-family homes was 24 and 22 for condominiums.

"Oahu's housing market remains healthy as the spring season begins, and there are favorable opportunities present," said Jenny L. Brady president of the Honolulu Board of REALTORS®. "Inventory levels have been rising steadily, offering more options at all price ranges. That, coupled with the recent decline in mortgage rates creates opportune circumstances for buyers. Partnering with a licensed REALTOR® is a great first step to ease the transition from browsing to buying."




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