So who said prices were falling? Hold on to your hat, Hawaii Board of Realtors released their May 2008 Statistics, read on…..
- The media is going to be really upset. Condos set an all time record high median price in May of $337,300! This beats the previous high of $335,000 set last year and tied in February this year.
- Single Family Home median prices were only $500 below last year at $649,500. Very strong. May is the fourth straight month that SFH median prices have risen so far in 2008.
- The number of sales was almost identical to April, only 4 fewer SFH and 2 fewer condo sales. I guess the news headlines are going to be pretty weak. “Sales continue to plummet, 2 fewer condos sold in May.” The fall in sales seems to be tapering off also.
- Days on Market were up 9 for SFH to 52 days and 7 for condos to 41 days.
Very good news for Hawaii Real Estate.
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