Here are the August real estate market stats for Oahu.  We see more of the same old stuff, we a few minor changes.  For articles, check out: Oahu August Median Home Prices Up Slightly, and Oahu’s Median Home Price Jumps 2.4%   To see a full copy of the market stats for August and all previous monthly stats go to the Resource Center.  Oahu’s overall sales for SFH’s is down 4.6% for the year-to-date comparision from 2007 to 2006.  Condos are down 14.5% for 2007 from 2006 (fewer new development projects coming up).  The overall median price for SFHs is up 1.4% from last year, and for condos is up 4.8%.

On page 4 of 20, we saw a big jump in the number of sales for SFHs to give us that summertime push, with 381 sales last month (most number of sales in a month since Mar. 06).  Condos sales increased as well to 495 units sold.

On page 6 of 20, the median home price for SFHs increased to $650,000, but this still keeps it in-line with a consistent leveling sales price range.  Condos decreased to $325,000, but it too is in line with recent numbers.

Page 7 of 20 shows the median number of days-on-market increased to 44 days for SFHs and increased slightly for condos to 38 days.

Page 14 of 20 shows the inventory of active listings increased slightly for sfhs to 1859 and increased slightly for condos to 2,386.

Page 18 of 20 shows the months of inventory remaining for SFHs at 5.5 months and for condos at 5.2 months.  Still very healthy numbers.

On page 19 of 20 we see the breakdown of inventory by area of the island, type of property, and price range.  Everything is pretty much consistent across the board.  the $1 million plus properties increased from 8.5 months of inventory last month to 10.6 months of inventory. 

Most of the activity here was prior to the recent problems in the lending industry.  Jumbo loan rates jumped about 3 weeks ago, so next months data should be a better sign of where things are headed.  Overall a consistent showing in the housing numbers, but we may see some changes due to the lending problems that recently occurred.

Feel free to contact me with any questions.  scott@kahalaassociates.com