Aloha, this is David Buck with Harcourts Island Real Estate. I hope you're having a great 2022 so far! I'm going to take a little step back and report on the sales stats for December of 2021.
Single Family Home Stats
The year finished off strong for single family homes once again with a record tie for median sales price of $1,050,000. That was up 20.7% from a year ago where it was at $870,000 in December of 2020. Now, the numbers of sales are slowing down a little bit for the single family product. It's 10% drop going from 420 sales in December of 2020 to 378 sales just this past month. So, there's a little bit of a slowdown in sales volume, however the prices are still strong.
Days on Market are taking 1 day longer or 10% longer now, but it's still a great Seller's Market. It's going from a median of 10 Days on Market to 11 Days. Stay tuned, take a look at the infographic and I'll be right back up with the condo market. Mahalo.
Condo Stats
Well, the condo market was a little more robust. It was up 15.4% from December of 2020. That was going from 514 sales then, to 593 sales in December of 2021. That's a good bump up in transaction volume on the condo front. We're starting to see more velocity in the condo product. The median price was also up a little bit at 6.6%. In December of 2020, we had a median condo price of $455,000. Now it's a bump up of another $30,000 to $485,000. However that's still shy of the record price, which was around $500,000. We're really close there.
Days on Market are dropping quite a bit on the condo front. That's a 31.6% drop going from 19 Days to 13 Days. December once again was a great month and I hope you had a wonderful Holidays and a great 2022 so far and we'll be up in a week or so to report on the local stats. Mahalo.