The Honolulu Board of REALTORS® released the MLS residential resale statistics for January 2016. Single-family home sales median sales price sets a new record high at $733,500, an 8.7% increase from 2015. Condominium median sales price has decreased by 1.8% to $374,500.
The median days on market for SFH and condo sales was 20, down by over 20% compared to 2015. There was 2.6 months of remaining inventory in the SFH market and 2.9 months remaining inventory for condominiums.
SFH priced in the $475,001-$650,000 range had the least days on market at 17. Condos priced in the $375,001-$475,000 ranges has the least days on market, at 17. SFH sales received an average of 98.2% of their list price and condominiums received 98.6%.
There were 232 SFH sales and 338 condo sales in January while 420 SFH listings and 437 condominium listings entered the market.
