During June, sales of 285 single-family homes and 396 condominiums were reported through the Board’s MLS, increases of 8.4 percent and 38.0 percent, respectively, from June 2009. The median price paid for island properties in the June was $575,000 for single-family homes and $300,000 for condominiums, an increase of 0.9 percent for single-family homes and a decrease of 3.2 percent for condos, compared to the same month last year. According to the Days on Market indicator, sales also closed faster in June with single-family homes listing for 32 days, down from 48 days, and condominiums down to 31 days from 47.
“The June statistics show that Honolulu’s real estate market continues to recover,” said Brian Benton, President of the Honolulu Board of REALTORS®. “Median prices for both single-family homes and condominiums are higher than this time last year, and pending sales for single-family homes are also up and should be reflected in the sales numbers over the next couple of months.”
*Information provided courtesy of HBR
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