Home prices on Oahu decline in May as inventory rises, Honolulu Board of Realtors says – Pacific Business News

Sales for Oahu single-family homes and condominiums dropped while median prices rose modestly in May according to resales figures released today by the Honolulu Board of REALTORS. During May 2018, the median sales price for single-family homes increased by 4.4 percent to $778,000 from May 2017.

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Hawaii Real Estate and Economy Search This Blog. Friday, May 31, 2013. General Economic News, Honolulu Rail Project, Neighborhood – Central Oahu, Neighborhood. April 2013 – 77 Homes Sold – $500,000 Median Price April 2012 – 79 Homes Sold – $469,000 Median Price. Condominium Sales for the Island of Maui

January 2016 brings again housing price increases for Oahu. The median price for condominiums decreased by 1.8% percent from last year to $374,500. Sales of single-family homes increased by 10.5 percent, while condominium sales increased by 18.2% percent from January 2015. According to the Days on Market indicator,

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While the decline may not seem significant, it assuredly is. It is only magnified by predictions of a 1.3% increase in job growth. Again, with the Honolulu job market being what it is, supply and demand in real estate sector should remain strong; regardless of how high prices appreciate.

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The median price of a home, which includes condominiums, was $480,000 in October, giving Honolulu an annual Home Price Appreciation rate of 10 percent, RealtyTrac says. The top market for HPA is the Toledo, Ohio market, where the median price of a home is $100,000 and the HPA rate is 33 percent.

In 2000 this seemed unbelievable and bold, especially in front of a large number of realtors. At that time the median Oahu single family home value had been hovering around $300,000 for several years. Prior to Paul’s 2000 presentation the Oahu real estate market experienced a prolonged softness throughout all of the 1990s.

On the other side of the ledger, the number of underwater homes declined by 10 percent from the first quarter of 2017, to 2.8 million properties, or 5.4 percent of mortgaged homes. A year earlier 7.1 percent of mortgaged homes had been underwater, a total of 3.6 million properties. This is an annual decrease of.