The Honolulu Board of REALTORS® released the MLS residential resale statistics for April 2016. Single-family home sales median sales price is at $720,000, a 6.7% increase from 2015. Condominium median sales price has increased by 5.1% to $389,500; a new record high.
The median days on market for SFH was 15, down by 31.8%. Condo days on market was 19, unchanged compared to 2015. There was 2.8 months of remaining inventory in the SFH market and 3.1 months remaining inventory for condominiums.
SFH priced in the $475,001-$650,000 range had the least days on market at 14. Condos priced in the $300,001-$375,000 range had the least days on market, at 16. SFH sales received an average of 98.6% of their list price and condominiums received 98.7%.
There were 301 SFH sales and 460 condo sales in April while 445 SFH listings and 629 condominium listings entered the market.
Data source: HBR Monthly Housing Statistics
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