July 2017 Honolulu Housing Market Stats
Honolulu condos saw a slight increase in median sales price between July 2016 and July 2017. The single-family market is looking more buyer-centric with slowing price increases while the condo sub-market continues to be a sellers’ market with falling number of days on market, healthy price increases and an inventory tightening lower number of new listings.
The number of closings rose 14.2% between July 2016 and July 2017, going from a respective 322 to 335, while the median sales price increased 0.5% during the same period, $746,000 and $750,000 respectively. The median days on market increased 25%, going from 16 to 20 days from July 2016 to July 2017, while the number of new listings increased 12.4% between July 2016’s 428 listings to July 2017’s 481 listings. Sellers in July 2017 received 96.8% of the original listing price, down 2.8% from the 99.6% sellers received in July 2016.
There were 475 condo closings in July 2017 compared to 444 in July 2016; a 7% increase. The median sales price of a condo increased 6.3% between July 2016 and July 2017, going from a respective $400,000 to $425,000. The median days on market fell 22.2%, going from 18 days in July 2016 to 14 days this past July. The number of new listings rose 11.4% between July 2016 and July 2017. A respective 605 to 674. Sellers saw 100% of the original listing price received this past July, the same as in July 2016.
Honolulu Board of REALTORs. Monthly Housing Statistics July 2017