The Honolulu Planning Commission voted on September 29th to recommend new short-term rental rules proposed by the city Department of Planning and Permitting (DPP) to the Honolulu City Council. The proposal would increase the minimum ...Read More
The Honolulu Board of Realtors provides sales activity statistics of single-family homes and condos on Oahu. The statistics include the number of closed sales, the median sales price, the median days a property is on the market, the number of new listings, the number of pending sales, months of remaining inventory, the number active listings, the average sales price, and % of original listing price received. In addition to a monthly snapshot, the report shows the trends of each measurement by graphing each monthly statistic over a two year period.
The median sales price is the best measure of overall market pricing and you can get a feel for what prices are doing over time by looking at the graph of the median price over time. The number of closed sales and the number of pending sales provides information regarding market demand while the number of new listings and number of active listings give information regarding market supply. Months of remaining inventory help indicate if the current market is a sellers market or buyers market. Six months of remaining inventory is considered a neutral market. Fewer than six months of remaining inventory is considered a sellers market and more than six months of remaining inventory is considered a buyers market.
The Honolulu Board of Realtors breaks the numbers down either further to Oahu neighborhoods in the Local Market Update.
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