The city saw a small decline in home sales for single-family homes in 2011. That's what the Honolulu Board of realtors most recent report showed. The 3% decline showed no significant change wh compared with 2010. However certain neighborhoods are booming and single family home prices are increasing. To see the full report click here.
"Although home and condominium sales for December 2011 took a small dip compared to last year, we are seeing prices rise for single-family homes," says Joe Paikai, newly-elected HBR president. "We've also noticed that particular neighborhoods have made significant jumps in sales compared to last year. This is a good sign for Honolulu as a whole; we expect to see this rise in sales spread as the economy continues to recover."
-During December, sales of 268 single-family homes and 333 condominiums were reported a decrease of 14.1% for single-family homes and a decrease of 6.5% for condominiums, compared to the same month last year.
-The median price paid for island properties in the
year of 2011 was $605,000 for single-family homes and $285,000 for condominiums, an increase of 3.4% fo SFH and a decrease of 6.5% for condos, from December 2010.
-According to the Days on Market indicator, single-family home sales closed at a faster pace last month compared to December 2010 listing for 35 days, down from 38. Condominiums closed at a slower pace last month compared to December 2010 listing for 52 days, up from 43.
