The Honolulu Board of Realtors released the residential resale statistics for August 2017.
Single Family Homes median price is $786,250, a 5.2% increase over last August. Condos median price reaches $419,000, a 5.3% increase. The median days on market remains the same at 16 days for SFH and a slight increase to 18 days for Condos.
There were 362 SFH sales in August, up 5.2% from last year and 575 Condo sales, near a high of 580 not seen since 2006 and also an increase of 19.5%. The months of remaining inventory is 2.5 months for SFH and 2.8 months for Condos.
The market continues to show signs of tight inventory and increasing demand for homes, especially those in the more affordable condo/townhouse category.
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