In 2017 housing prices and sales reached record marks. In June the median price of single-family homes reached $795,000, and in July, the median price of condos hit $425,000, both record highs. During the summertime homes were also selling rapidly, with an average of 12 and 13 days on the market for single-family homes and condos respectively.
In December, the median price of single-family homes was $750,000. Sales were up 5.9% from the same time in 2016, with 361 houses sold. For condos, sales were actually down 12.2% from 2016, with 461 units sold. Nevertheless, each market experienced overall growth in 2017 with sales increasing 6.3% and 6.9% for single-family homes and condos respectively.
For more information on buying or refinancing a home in Hawai'i, please contact Solid Rock Home Loans at (808) 255-7498 or by e-mail at firstname.lastname@example.org.
**Data from Honolulu Board of REALTORS®