Q: How Has the Market Changed 90 Days into COVID?
Team Lally Hawaii Real Estate Podcast
English - July 15, 2020 20:53 - ★★★★★ - 2 ratingsEducation hawaii real estate market adrienne lally tips educational keller williams Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Here are the takeaways from our June 2020 versus June 2019 market comparison.
The median sale price for single-family homes has gone down a wee bit—a 3.8% reduction to $770,000. The closed sales volume has decreased to 302, which is a 7.6% drop. The average days on market has crept up just a tad to 20 (in June 2019, the average was 18 days on market).
The median sale price for townhomes/condos is $421,500, which is a only a 2.5% change year over year. The closed sales volume, on the other hand, has fallen to 312—a 34% decrease year over year. The average days on market has gone up to 40 (the same number of days it rained while Noah was on the ark with two of every animal)! That’s a 48% increase from 27 days on market in June 2019.
We’ve had a full 90 days of the COVID-19 pandemic, and these stats represent the ways in which the market has been affected (or, in some cases, not affected). Be safe, and Aloha!