Single Family Home Stats
The month ended up with a median sales price of $770,000, which was up just .3% from January of 2019. The sales finished up 7.7% as far as the number of transactions. The median days on market was 35 days, which is taking about 8 days longer to sell than it was a year ago.
As far as the local markets go, Aina Haina-Kuliouou saw the largest increase which was 400%! Now, keep in mind that it went from 1 sale to 4 sales, so we'll take that with a grain of salt. The biggest decrease took place in Wahiawa where we saw a 64% decrease in the number of sales. That went from 11 sales last year to just 4 sales this year.
Regarding the median sales price in these local neighborhoods, Aina Haina-Kuliouou also saw the largest increase at 128%. Unfortunately, Diamond Head-Kapahulu saw the largest decrease at 29% for single family homes. Dianne is going to get into the condos shortly and the Diamond Head-Kapahulu neighborhood will be a little bit different as far as the stats go on the condo side. We appreciate you bearing with us as this video was done without our trusty editor this month :)
Overall across the island we had 379 condo sales this January. This is an increase of 16.3%. 2020 if off to a great start! The median sales price was also up (up by 7.5%) to $429,000 for a condominium in Honolulu. We may a little bit of a tighter market as we go further into 2020 because new listing inventory was down 19.7% compared to January of last year.
When we look at the neighborhoods as David pointed out, the largest percentage increase in the number of condo sales happened on the Windward Coast. The number of sale doubled from 1 to 2. The Diamond Head-Kapahulu area had the largest price increase. The prices were up 48% compared to last year. The median sales price in this neighborhood was $574,500.
Every condominium is different, every home is different and every market is different. If you want to find out what this means for you, call us at Harcourts Island Real Estate 808-777-4880.