November Honolulu numbers show a steady market for sellers, with prices up 6% for single family homes and 8% for condos compared with this time last year. Honolulu_MSR_Nov2018_Avg Sales Price

 

Median sale prices in Honolulu have gone up 3 and 4% since Nov 2017 for single family homes and condos respectively. Honolulu_MSR_Nov2018_Median Sales Price

 

Even though the number of months of inventory is up 40% for single family homes in Honolulu and 24% for condos, the absorption rate is still in the highly competitive (for sellers) range of 3 months.

Honolulu_MSR_Nov2018_Months Of Inventory

Single family homes in Honolulu are spending a median of 28 days on the market while condos are spending a median of 22 day on the market, an increase of 75% and 10% since November 2017.

Honolulu_MSR_Nov2018_Median DOM

 

Compared with November of 2017, there were 18% more new single family homes put on the market and a decrease of 3% in number of new condos listed. Honolulu_MSR_Nov2018_New Listings

 

There are currently approximately 1,454 active single family homes and 2,103 condos on the market in Honolulu.Honolulu_MSR_Nov2018_Active Listings

405 single family homes and 574 condos in Honolulu are pending sale.

Honolulu_MSR_Nov2018_Pending Sales

 

During November, 288 single family homes and 429 condos closed in Honolulu.

Honolulu_MSR_Nov2018_Closed Sales

In November single family homes received 96.9% of asking price while condos received 97.9% of asking price.

Honolulu_MSR_Nov2018_Original Price Received

The market is holding strong and steady in Honolulu, and current conditions continue to favor sellers. Please let me know if you would like to sell your Honolulu home or help you find your dream Honolulu home.

 

Leave a Reply