May 2017 Honolulu Real Estate Statistics

May 2017 Honolulu Real Estate Statistics

The Honolulu Board of Realtors released the residential resale statistics for May 2017. The figures show a strong start to the beginning of the Summer season, the usual the annual peak of the local housing market.

Single Family Homes median price is $745,000, a 3.6% increase over last May. Condos median price is $406,500, a 9% increase. The median days on market for both are 14, down 17.6% for SFH and down 6.7% for Condos. 

There were 362 SFH sales in May, up 13.5% from last year and 540 Condo sales is an increase of 13.2%. The months of remaining inventory is 2.7 months for SFH and 2.8 months for Condos.

The market continues to show signs of tight inventory and increasing demand for homes. Message me for more real estate information. 

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