honolulu real estate monthly indicator sept 2010

8/8/2019 Honolulu Real Estate Monthly Indicator Sept 2010

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Contents

Monthly IndicatorsSeptember 2010

ose a esMedian Sales Price 3

Average Sales Price 4

New Listings 5

Pending Sales 6

Days on Market Until Sale 7

Percent of Original List Price Received at Sale 8Housing Affordability Index 9

Inventory of Homes Available 10

Months Supply of Inventory 11

Market Overview 12

Explanation 3

All data from the HiCentral MLS, Ltd. Powered by 10K Research and Marketing. 1



Closed SalesA Monthly Indicator from the Honolulu Board of REALTORS®

A count of the sales that have closed in a given month.

Single-Family Condo

213

317

253

354

274298

September 2008 2009 2010

+ 18.8% + 8.3% + 11.7% - 15.8%

Single-Family Condo

2,134

3,312

1,869

2,4202,251

2,937

Year to Date 2008 2009 2010

- 12.4% + 20.4% - 26.9% + 21.4%

Single-Family Condo

213

317

253

354

274298

September 2008 2009 2010

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

Jan-90 Jan-92 Jan-94 Jan-96 Jan-98 Jan-00 Jan-02 Jan-04 Jan-06 Jan-08 Jan-10

Historical Closed Sales

Single-Family

Condo

+ 18.8% + 8.3% + 11.7% - 15.8%

Single-Family Condo

2,134

3,312

1,869

2,4202,251

2,937

Year to Date 2008 2009 2010

- 12.4% + 20.4% - 26.9% + 21.4%




Median Sales PriceA Monthly Indicator from the Honolulu Board of REALTORS®

Tthe median sales price for all closed sales in a given month, sold properties only.

Single-Family Condo

$611,450

$300,000

$605,000

$309,500

$622,450

$335,000

September 2008 2009 2010

- 1.1% + 2.9% + 3.2% + 8.2%

Single-Family Condo

$625,000

$327,500

$575,000

$305,000

$599,000

$305,000

Year to Date2008 2009 2010

- 8.0% + 4.2% - 6.9% - 0.0%

Single-Family Condo

$611,450

$300,000

$605,000

$309,500

$622,450

$335,000

September 2008 2009 2010

$100,000

$175,000

$250,000

$325,000

$400,000

$475,000

$550,000

$625,000

$700,000


Historical Median Sales Price

Single-Family Condo

- 1.1% + 2.9% + 3.2% + 8.2%

Single-Family Condo

$625,000

$327,500

$575,000

$305,000

$599,000

$305,000

Year to Date2008 2009 2010

- 8.0% + 4.2% - 6.9% - 0.0%




Average Sales PriceA Monthly Indicator from the Honolulu Board of REALTORS®

Tthe average sales price for all c losed sales in a given month, sold properties only.

Single-Family Condo

$786,441

$353,184

$752,651

$358,856

$840,138

$403,104

September 2008 2009 2010

- 4.3% + 11.6% + 1.6% + 12.3%

Single-Family Condo

$790,739

$386,357

$685,881

$347,886

$718,571

$355,872

Year to Date2008 2009 2010

- 13.3% + 4.8% - 10.0% + 2.3%

Single-Family Condo

$786,441

$353,184

$752,651

$358,856

$840,138

$403,104

September 2008 2009 2010

$200,000

$275,000

$350,000

$425,000

$500,000

$575,000

$650,000

$725,000

$800,000

$875,000

$950,000

Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10

Historical Average Sales Price

Single-Family Condo

- 4.3% + 11.6% + 1.6% + 12.3%

Single-Family Condo

$790,739

$386,357

$685,881

$347,886

$718,571

$355,872

Year to Date2008 2009 2010

- 13.3% + 4.8% - 10.0% + 2.3%




New ListingsA Monthly Indicator from the Honolulu Board of REALTORS®

A count of the properties that have been newly listed on the market in a given month, regardless of what status they're currently in.

Single-Family Condo

524

644

390

610

435

562

September 2008 2009 2010

- 25.6% + 11.5% - 5.3% - 7.9%

Single-Family Condo

5,157

6,897

3,965

5,408

4,220

5,499

Year to Date 2008 2009 2010

- 23.1% + 6.4% - 21.6% + 1.7%

Single-Family Condo

524

644

390

610

435

562

September 2008 2009 2010

0

250

500

750

1,000

1,250

1,500

1,750

2,000

2,250


Historical New Listings

Single-Family

Condo

- 25.6% + 11.5% - 5.3% - 7.9%

Single-Family Condo

5,157

6,897

3,965

5,408

4,220

5,499

Year to Date 2008 2009 2010

- 23.1% + 6.4% - 21.6% + 1.7%




Pending SalesA Monthly Indicator from the Honolulu Board of REALTORS®

A count of the properties that have offers accepted on them in a given month, regardless of whether or not the sale closes.

Single-Family Condo

230

281287

423

315

386

September 2008 2009 2010

+ 24.8% + 9.8% + 50.5% - 8.7%

Single-Family Condo

2,176

3,272

2,162

2,836

2,473

3,134

Year to Date2008 2009 2010

- 0.6% + 14.4% - 13.3% + 10.5%

Single-Family Condo

230

281287

423

315

386

September 2008 2009 2010

0

250

500

750

1,000

1,250

1,500

1,750

Jan-97 Jan-98 Jan-99 Jan-00 Jan-01 Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10

Historical Pending Sales

Single-Family

Condo

+ 24.8% + 9.8% + 50.5% - 8.7%

Single-Family Condo

2,176

3,272

2,162

2,836

2,473

3,134

Year to Date2008 2009 2010

- 0.6% + 14.4% - 13.3% + 10.5%




Days on Market Until SaleA Monthly Indicator from the Honolulu Board of REALTORS®

The median number of days between when a property is first listed and when it is pended.

Single-Family Condo

59

5354

44

32

39

September 2008 2009 2010

- 8.5% - 40.7% - 17.9% - 11.5%

Single-Family Condo

50

41

52 53

32 33

Year to Date2008 2009 2010

+ 4.0% - 38.5% + 29.3% - 37.7%

Single-Family Condo

59

5354

44

32

39

September 2008 2009 2010

0

10

20

30

40

50

60

70

80

90

100


Historical Days on Market Until Sale

Single-Family

Condo

- 8.5% - 40.7% - 17.9% - 11.5%

Single-Family Condo

50

41

52 53

32 33

Year to Date2008 2009 2010

+ 4.0% - 38.5% + 29.3% - 37.7%




Percent of Original List Price Received at SaleA Monthly Indicator from the Honolulu Board of REALTORS®

The average percentage found when dividing a property's sales price by the original list price, sold properties only.

Single-Family Condo

93.1% 94.1%92.6% 93.7%

95.2% 95.2%

September 2008 2009 2010

- 0.6% + 2.9% - 0.4% + 1.6%

Single-Family Condo

93.5% 94.6%92.6% 92.2%

95.5% 95.0%

Year to Date 2008 2009 2010

- 0.9% + 3.2% - 2.6% + 3.1%

Single-Family Condo

93.1% 94.1%92.6% 93.7%

95.2% 95.2%

September 2008 2009 2010

90.0%

92.0%

94.0%

96.0%

98.0%

100.0%


Historical Pct. Of Original List Price Received at Sale

Single-Family Condo

- 0.6% + 2.9% - 0.4% + 1.6%

Single-Family Condo

93.5% 94.6%92.6% 92.2%

95.5% 95.0%

Year to Date 2008 2009 2010

- 0.9% + 3.2% - 2.6% + 3.1%




Housing Affordability IndexA Monthly Indicator from the Honolulu Board of REALTORS®

A measure of affordability, the higher the number the more affordable housing is relative to income. Detailed explanation below.

Single-Family Condo

52

101

61

113

63

112

September 2008 2009 2010

Single-Family Condo

51

93

64

115

66

122

Year to Date2008 2009 2010

+ 17.5% + 3.9% + 12.4% - 0.9% + 25.8% + 2.6% + 23.3% + 6.3%

Single-Family Condo

52

101

61

113

63

112

September 2008 2009 2010

Single-Family Condo

51

93

64

115

66

122

Year to Date2008 2009 2010

+ 17.5% + 3.9% + 12.4% - 0.9% + 25.8% + 2.6% + 23.3% + 6.3%

25

40

55

70

85

100

115

130

145


Historical Housing Affordability Index

Single-Family Condo

The HAI formula measures affordability for the Honolulu market. An HAI of 120 means the median family income is 120% of the necessary income to qualify for the median priced home using a 20% down, 30-year fixed rate mortgage.

Current Median Family Income =

Current Interest Rate =

$79,300

4.76%




Inventory of Homes AvailableA Monthly Indicator from the Honolulu Board of REALTORS®

The number of properties available for sale in active status at the end of the month.

Single-Family Condo

2,389

2,948

1,711

2,251

1,515

2,098

September 2008 2009 2010

- 28.4% - 11.5% - 23.6% - 6.8%

1,000

1,200

1,400

1,600

1,800

2,000

2,200

2,400

2,600

2,800

3,000

3,200


Historical Inventory of Homes Available

Single-Family Condo

Single-Family Condo

2,389

2,948

1,711

2,251

1,515

2,098

September 2008 2009 2010

- 28.4% - 11.5% - 23.6% - 6.8%




Months Supply of InventoryA Monthly Indicator from the Honolulu Board of REALTORS®

Compares the number of active listings available to the average monthly pending sales for the last twelve months.

Single-Family Condo

10.1

7.98.6 8.6

6.3 6.5

September 2008 2009 2010

- 15.0% - 26.9% + 8.8% - 24.5%

0

2

4

6

8

10

12


Historical Months Supply of Inventory

Single-Family Condo

Single-Family Condo

10.1

7.98.6 8.6

6.3 6.5

September 2008 2009 2010

- 15.0% - 26.9% + 8.8% - 24.5%




Market Overview A Monthly Indicator from the Honolulu Board of REALTORS®

Current Year Prior Year PercentChange

Current Year Prior Year PercentChange

Jul 2010 487 446 + 9.2% 645 586 + 10.1%

Aug 2010 452 384 + 17.7% 631 565 + 11.7%

Sep 2010 435 390 + 11.5% 562 610 - 7.9%

Pending Sales Jul 2010 267 286 - 6.6% 337 359 - 6.1%Aug 2010 300 249 + 20.5% 335 363 - 7.7%

Sep 2010 315 287 + 9.8% 386 423 - 8.7%

Closed Sales Jul 2010 269 266 + 1.1% 326 343 - 5.0%

Aug 2010 229 239 - 4.2% 293 348 - 15.8%

Sep 2010 274 253 + 8.3% 298 354 - 15.8%

Days on Market Until Sale Jul 2010 39 45 - 13.3% 37 56 - 34.8%

Aug 2010 33 49 - 32.7% 33 53 - 37.1%

Single-Family Condo

New Listings

Sep 2010 32 54 - 40.7% 39 44 - 11.5%Median Sales Price Jul 2010 $604,500 $595,000 + 1.6% $300,000 $307,250 - 2.4%

Aug 2010 $640,000 $560,000 + 14.3% $305,000 $290,000 + 5.2%

Sep 2010 $622,450 $605,000 + 2.9% $335,000 $309,500 + 8.2%

Average Sales Price Jul 2010 $730,763 $664,867 + 9.9% $359,783 $357,619 + 0.6%

Aug 2010 $797,441 $688,125 + 15.9% $351,699 $342,844 + 2.6%

Sep 2010 $840,138 $752,651 + 11.6% $403,104 $358,856 + 12.3%

Jul 2010 1,708 1,929 - 11.5% 2,175 2,480 - 12.3%

Aug 2010 1,635 1,849 - 11.6% 2,211 2,358 - 6.2%

Sep 2010 1,515 1,711 - 11.5% 2,098 2,251 - 6.8%

Percent of Original List Price Jul 2010 95.8% 93.5% + 2.5% 95.0% 92.9% + 2.3%

Aug 2010 94.8% 93.6% + 1.3% 94.6% 92.3% + 2.4%

Sep 2010 95.2% 92.6% + 2.9% 95.2% 93.7% + 1.6%

Housing Affordability Index Jul 2010 64 60 + 6.8% 122 110 + 10.3%

Aug 2010 62 65 - 5.2% 122 119 + 2.4%

Sep 2010 63 61 + 3.9% 112 113 - 0.9%

Months Supply of Inventory Jul 2010 6.5 9.6 - 32.4% 6.2 9.3 - 33.4%

Aug 2010 6.7 9.1 - 26.8% 6.3 9.1 - 30.5%Sep 2010 6.3 8.6 - 26.9% 6.5 8.6 - 24.5%

Total Active Listings Available

at Month End




Explanation of MethodologyFrom the Honolulu Board of REALTORS®

Pending Sales

Closed Sales

Median Sales Price

Days on Market Until Sale

The median sales price for all closed sales in a given month, sold properties only.

New ListingsA count of the properties that have been newly listed on the market in a given month, regardless of what statusthey're currently in.

A count of the properties that have offers accepted on them in a given month, regardless of whether or not thesale closes.

A count of the properties that have closed in a given month.

The average number of days between when a property is first listed and when it is pended.

Average Sales Price

Percent of Original List PriceReceived At Sale

Housing Affordability Index

The average percentage found when dividing a property's sales price by the original list price, sold propertiesonly.

Measures affordability in the Honolulu region. An index of 120 would mean that the median family income in theregion is 120% of what's necessary to qualify for the median priced home.

, .

The average sales price for all closed sales in a given month, sold properties only.

The number of properties available for sale in active status at the end of the month.

Months Supply of Inventory Compares the number of active listings available to the average monthly pending sales for the last twelve months.

Total Active Listings Available At

Month End


honolulu real estate monthly indicator sept 2010

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