The Honolulu Board of Realtors released the residential resale statistics for June 2017.
Single Family Homes median price is $795,000, a 4.6% increase over last June. Condos median price is $400,000, a 1.4% decrease. The median days on market is down 14.3% to 12 days for SFH and down 35% to 13 days for Condos.
There were 370 SFH sales in June, up 14.2% from last year and 536 Condo sales is a decrease of 2.2%. 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 even with the increase in market prices. Pending sales are up 38.7% for single family homes and up 15.% for condos. Message me for more real estate information.