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

Single-Family Homes - 254 Sales - $569,000
Condominiums - 293 Sales - $310,000

During June, sales of 254 single-family homes and 293 condominiums were reported through the Board's MLS, an increase of 9.5 percent for single-family homes and a 17.3 percent decrease for condominiums, compared to the same month last year. This brings total single-family home sales on Oahu to 1,107 for the first six months of 2009, a decrease of 21.7 percent over the same time period one year ago. Total condominium sales through June were 1,380, a 36.1 percent decrease from last year. The median prices paid for island properties in the first six months of 2009 were $570,000 and $305,000, respectively, decreases of 9.4 percent for single-family homes from the same time period in 2008 and 7.6 percent for condominiums. The total dollar sales volume generated in the housing market for the first six months of this year was $1.227 billion, a decrease of 37.8 percent, or $744.8 million, compared to the $1.971 billion produced one year ago.

"Single-family home sales were up in June, compared to a year ago, and the median prices paid for both single-family homes and condominiums increased since than last month," said  Sandra "Sam" Bangerter, President of the Honolulu Board of REALTORS®.  "Another positive statistic was that the sales speed as the 'Days on Market' indicator was the fastest this year at 45 days for both housing categories. We don't want to seem overly optimistic, but it looks like we could be nearing the bottom of the current market slump."

"The available inventory continues to be quite low and this appears to be the reason for the small decreases in home prices for Honolulu, compared to the sizable declines for Mainland cities," added Harvey Shapiro, Research Economist at the Honolulu Board of REALTORS®. "Recently, the mortgage rates have been rising and the lack of financing options continue to stifle the market. However, the sales data show that there are buyers in the market who are willing to purchase properties that are appropriately priced."

Established in 1922, the Honolulu Board of REALTORS® is one of the largest of 1,600 boards of REALTORS® in the nation and, with over 5,500 members, the largest trade organization on Oahu. Membership is available to licensed real estate brokers, agents, property managers, appraisers, counselors and others engaged in all aspects of the real estate industry pledged to adhere to a strict Code of Ethics and Standards of Practice. For more information, call (808) 732-3000 or visit HiCentral.com.

Enforcement of the cell phone ban will begin on Wednesday, July 1, when the new law takes effect.

Bill 4 (2009) is the new law which prohibits the use of mobile electronic devices while operating a motor vehicle. The law applies to hand-held devices; hands-free devices will still be allowed. Drivers will need to switch to hands-free technology, such as cell-phone headsets or Bluetooth earsets, or face a fine. There is NO grace period.

Bluetooth headsets may be purchased from any cell phone carrier store or consumer electronic retailers such as Radio Shack, Best Buy, Office Max, Office Depot, etc. Bluetooth headsets are "generic" and do not need to be purchased specifically from your cell phone carrier.

The fine for the first offense is $67. View Honolulu Police Department's "FAQ's Relating to the Use of Mobile Electronic Devices" HERE. View a copy of the Ordinance HERE.

Let's keep our roads safe!

As part of its mission to promote homeownership, the Honolulu Board of REALTORS® has awarded a $15,000 grant to the Hawaii HomeOwnership Center from its REALTOR® Housing Fund.

"It's gratifying to see how the Hawaii HomeOwnership Center has helped many island residents realize the dream of homeownership by providing valuable education, information and support," said Sandra "Sam" Bangerter, president of the Honolulu Board of REALTORS®.  "With this grant, we know that they will be able to continue their mission to create successful first-time homeowners."

Established by the Honolulu Board of REALTORS® in 1993, the REALTOR® Housing Fund is financed by contributions from individual REALTORS® and awards grants to support programs and projects related to housing needs in the community.

The Hawaii HomeOwnership Center is a chartered member of the NeighborWorks Network, a select group of over 230 non-profit organizations serving urban and rural communities across the country. The NeighborWorks Network is part of NeighborWorks America, a national non-profit created by Congress with a direct appropriation of federal funds.

The Windward Coast neighborhood is, as the name implies, on the windward side of O'ahu and north of Kaneohe.  It is a diverse area with a mix of large oceanfront properties as well as smaller living spaces.  This neighborhood is geographically defined by the Honolulu Board of REALTORS® as Tax Map Key, Zone 4, Section 8, through Zone 5, Section 4.  Also included is Zone 4, part of Section 7.

This neighborhood has been stable with very little sales activity.  For all of 2008, there were only 63 single-family homes sold which was down from the 77 sold in 2007. This year, through May, only 14 dwellings have changed hands and this is a 51.7% decline from the number sold in the same time period in 2008.

The median price for the Windward Coast neighborhood was pretty consistent through last year, but has dipped recently. The median price paid for  a single-family home in 2008 was $640,000, and this was actually a $10,000 increase from the median price paid during 2007.  This year, however, there have been so few sales in the time period January through May that the median price has fallen to $430,000.

The available inventory for this neighborhood has declined a bit less than for the entire island of O`ahu. In May, there were 83 homes waiting to be sold, compared to 93 at the same time last year, a decrease of 10.8%. The median asking price has increased, however, going from $788,000 last May, to the current $795,000, a gain of 0.9%.

For further information about recent activity in your specific neighborhood, check the information available on the Honolulu Board of REALTORS® website HiCentral.com and/or contact a REALTOR® in your area.

The Honolulu Board of REALTORS® will be partnering with the Hawaii HomeOwnership Center and other organizations at the annual Homebuyer & Homeowner Fair this Saturday, June 20, at Kapolei Hale from 9:00 a.m. to 1:00 p.m.

Housing related agencies will create a roadmap for those in the market to purchase their first home or for those who want more information on short sales and foreclosures.  Workshops will be held to prepare consumers for the home buying process, from pre-qualifying for a mortgage to closing the transaction.

The event is free and open to the public! For more details, visit HiCentral.com today!