The Honolulu Board of REALTORS® released the MLS residential resale statistics for May 2016. Single-family home median sales price is at $719,000, a 3% increase from 2015. Condominium median sales price has decreased by 0.5% to $373,000.
The median days on market for SFH was 17, unchanged. Condo days on market was 15, a decrease of 34.8% compared to 2015. There was 2.9 months of remaining inventory in the SFH market and 3.1 months remaining inventory for condominiums.
SFH priced in the $550,001-$650,000 range had the least median days on market at 13. Condos priced in the $300,001-$475,000 range had the least median days on market, at 16. SFH sales received an average of 98.5% of their list price and condominiums received 99.5%.
There were 319 SFH sales and 477 condo sales in May while 426 SFH listings and 623 condominium listings entered the market.
Data source: HBR Monthly Housing Statistics
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