Thursday, May 24, 2012
Oahu home prices fall in May for fourth time in 5 months
POSTED: 10:06 a.m. HST, Jun 07, 2011
LAST UPDATED: 03:46 p.m. HST, Jun 07, 2011
The median price of previously owned single-family homes sold on Oahu fell in May for the fourth time in 5 months, the Honolulu Board of Realtors reported today.
The median price fell to $595,000 in May, down from $600,000 in the same month a year earlier.
The number of homes sold also declined, falling to 243 in May, down 15 percent from a year earlier.
The story was similar in the condominium market, with the median price in May falling to $290,000 from $305,000 the previous year. The number of condo sales fell to 330, a 10 percent drop from 368 in May 2010.
One positive sign in the Board of Realtors’ report was an increase in pending sales of single-family homes to 292 in May from 239 a year earlier.
Also, the inventory of unsold homes fell to 1,479 in May from 1,658 a year earlier. At the current rate of sales it would take 6 months to liquidate the inventory of unsold homes, down from 6.5 months a year earlier, according to the report.
Oahu home resales fall in June
Oahu single-family home price down 3% in 2011 from 2010
Oahu home sales rise, prices fall
Oahu home sales in April fall, median price rises
Oahu median home price up to $645K in August
Maui home sales dip while condo sales rise
Oahu home sales up in November, but prices mixed.
Home sales on Maui mixed as median prices decline
Oahu home sale prices surge
Maui median home price down 2 percent to $450,000
