June 2017 Honolulu Housing Market Stats
Honolulu condos, which is the housing submarket that sees the most activity, saw a small decrease in median sales price between June 2016 and June 2017. This continues to be a sellers’ market as inventory levels have tightened and median days on market is in a downward trend while percentage of original listing price received trends in positive territory.
The number of closings rose 14.2% between June 2016 and June 2017, going from a respective 324 to 370, while the median sales price increased 4.6% during the same period, $760,000 and $795,000 respectively. The median days on market dropped 14.3%, going from 14 to 12 days between June 2016 to June 2017, while the number of new listings decreased 2.1% between June 2016’s 477 listings to June 2017’s 467 listings. Sellers in June 2017 received 99.5% of the original listing price, up 1.1% from the 98.4% sellers received in June 2016.
There were 536 condo closings in June 2017 compared to 548 in June 2016; a 2.2% decrease. The median sales price of a condo decreased 1.4% between June 2016 and June 2017, going from a respective $405,500 to $400,000. The median days on market fell 35%, going from 20 days in June 2016 to 13 days this past June. The number of new listings rose 18.5% between June 2016 and June 2017. A respective 584 to 692. Sellers saw a little more of the original listing price this past June (100%), compared to 97.6% in June 2016; an increase of 2.5%.
Honolulu Board of REALTORs. Monthly Housing Statistics June 2017