Isle home, condo sales Home sales on Oahu so far have been mostly unhurt by the economic crisis that followed the Sept. 11 terrorist attacks, according to figures issued today by the Honolulu Board of Realtors.
fall but prices rise
The Sept. 11 attacks don't
appear to have had a major effectBy Russ Lynch
rlynch@starbulletin.com
Sales volume was down for both single-family homes and condominiums, but prices were higher than the previous September's levels and the trade association said the overall picture was that the statistics were only "marginally affected" by the tragic events early in the month.
A total of 261 previously owned single-family homes were sold in September, down 11.8 percent from 296 in September 2000.
The single-family median price, the level at which half the homes sold for more and half for less, was $308,000 last month, up 10 percent from the year-earlier median of $280,000.
Condominium resales totaled 334 last month, down 3.5 percent from 346 units in September 2000, and the condominium median price was $134,000, up 3.1 percent from the year-earlier median of $130,000.
"Through the end of September our data doesn't reflect any major market trends," said Peter Freeman, president and chief executive officer of the 3,500-member real estate association.
However, Freeman said it is too soon after the tragedy to determine its possible affects.
Sales volume for the first nine months of the year was up 7.9 percent for single-family homes, a total of 2,573 this year compared to 2,384 last year.
Condominium sales volume was also up year-over-year, for a total of 3,245 in the first nine months, an increase of 11 percent from 2,924 last year. Nine-months total sales volume of $1.51 billion was up 4.9 percent from last year's $1.44 billion.
The Board of Realtors reports home sales recorded in its computerized Multiple Listing Service. The statistics do not reflect first-time sales of new houses and apartments, only previously owned properties.