Absolutely no interpretation from me needed. The Hawaii housing market speaks for itself. Look at the low inventory of homes for sale, and the high number of pending sales.
Inventory – Down 13.3% to 3823 total properties for sale.
Single Family Residences – 1674 down from 1928 last year.
Condos – 1754, down 16.1% from 2090 condos for sale last year.
Months of supply down 30.1% to 6.4 months of inventory.
And even while inventory is way down, look at how the number of sales has risen, and with plenty of pending sales still on the way!
Pending Sales – Up 25.2% to 7362 in escrow compared to 5882 last year.
Percent of Original List price received up 2.5% to 96.4%
Closed single family home sales on Oahu in August – 224, compared to 239 last year.
Median Sales Price of Single Family Homes in Hawaii – Up 0.9% to $590,000.
Median Sales price of Hawaii Condos – Down 0.3% to $316,000
Days on Market – 36! That’s down from 54 days on market last August!