HAWAII KAI HOME SALES AND PEARL CITY-AIEA CONDO SALES UP IN NOVEMBER
HONOLULU – Most areas across Oahu experienced positive sales gains in November, with sales of single-family homes in Hawaii Kai and condominiums in Pearl City-Aiea seeing a notable boost in November, according to a report by the Honolulu Board of REALTORS®.
Sales of single-family homes in the Hawaii Kai market rose by 53%, with 23 closed sales and a median price of $1,100,000, down just 1% from November 2018. New listings have been on pace with 2018. A total of 246 homes have been listed year to date, versus 252 homes last year. According to the days on market indicator, homes were on the market for a median of 19 days, compared to 34 days during the same time last year.
Condominium sales in Pearl City-Aiea increased by 85% and the median sales price rose by 6% to $378,000. Condos in this area sold more quickly than November 2018, with a median of 20 days on the market compared to 27 days. The Pearl City-Aiea market represented a more substantial portion of total condo sales in November at 8.5%. Both active listings and new listings remain near 2018 levels while year-to-date sales in the area are up 6%, with a flat median sales price of $389,500.
“Neighborhoods across the island are unique, and looking more deeply at what has sold, where the most activity is happening, and at what price point gives us a better indication of how the market is performing,” said Jenny L. Brady, president of the Honolulu Board of REALTORS®. “Hawaii Kai and Pearl City-Aiea continue to be popular markets, but homebuyers can find value in many markets, and it’s encouraging to see continued activity during a time when it traditionally eases back.”
The information contained in this report is provided to the National Association of REALTORS® and the Hawaii State Department of Economic Development, Business and Tourism for its official reports. This report reflects information about resales of existing properties only and does not include new home sales. All of the MLS information is compiled from sales reported during the cited months; this data is known only after the closing of escrow.
The public is encouraged to visit www.hicentral.com to see what’s happening in the housing market. Consumers have the ability to browse Oahu and Molokai single-family home and condominium listings, available for sale and for rent, and to see a comprehensive guide of homes that will be open to visit this Sunday. All searches can be done by geographic location and price range, and hicentral.com provides useful information about buying and selling real estate in Hawaii.
Please click here to download the full LMU report for November 2019.