JFK Market Update

The Honolulu Board of REALTORS® released the following resale figures. According to the analysis conducted by the Board, using data collected from its computerized Multiple Listing Service (MLS) system, the statistics are:

Single Family	YTD 2010	YTD 2011	+ / -
Closed Sales	2,745	2,696	-1.8%
Median Sales Price	$595,000	$574,500	-3.4%
Months Supply of Inventory	6.5	5.6	-14.6%
Condominium	YTD 2010	YTD 2011	+ / -
Closed Sales	3,624	3,696	+2.0%
Median Sales Price	$305,000	$300,500	-1.5%
Months Supply of Inventory	6.8	5.5	-20.2%

The leading indicator in this month's market statistics continues to be the months supply of inventory which for both single family homes and condominiums remains below six months. This level of supply and demand is considered very favorable to Sellers. Meanwhile, local interest rates; largely under 4%, provide ample incentive for qualified buyers. Pending sales, a sign of activity-in-progess, are also up this month - about 20% over the same time last year, a sign that activity levels should remain strong over the holiday season.