West Hawaii Real Estate | October 26, 2018 11
in the buying process as possible in
order to ensure buyers can act fast on
listings that catch their eye.”
All-cash sales accounted for 21
percent of transactions in September,
up from August and a year ago (both
20 percent). Individual investors,
who account for many cash sales,
purchased 13 percent of homes in
September, unchanged from August
and down from 15 percent a year ago.
Distressed sales – foreclosures
and short sales – were 3 percent of
sales in September (the lowest since
NAR began tracking in October 2008),
unchanged from last month and down
from 4 percent a year ago. Two percent
of September sales were foreclosures
and 1 percent were short sales.
Single-family and condo/
co-op sales
Single-family home sales were at
a seasonally adjusted annual rate of
4.58 million in September, down from
4.74 million in August, and are 4.0
percent below the 4.77 million sales
pace from a year ago. The median
existing single-family home price was
$260,500 in September, up 4.6 percent
from September 2017.
Existing condominium and co-op
sales were recorded at a seasonally
adjusted annual rate of 570,000 units
in September, down 3.4 percent from
last month and 5.0 percent from a year
ago. The median existing condo price
was $239,200 in September, which is
up 1.5 percent from a year ago.
Regional breakdown
September existing-home sales
in the Northeast decreased 2.9
percent to an annual rate of 680,000,
5.6 percent below a year ago. The
median price in the Northeast was
$286,200, which is up 4.1 percent
from September 2017.
In the Midwest, existing-home
sales remained the same as last month
at an annual rate of 1.28 million in
September, but are still down 1.5
percent from a year ago. The median
price in the Midwest was $200,200,
up 1.9 percent from last year.
Existing-home sales in the South
decreased 5.4 percent to an annual rate
of 2.11 million in September, down
from 2.12 million a year ago. The
median price in the South was $223,900,
up 3.0 percent from a year ago.
Existing-home sales in the
West fell 3.6 percent to an annual
rate of 1.08 million in September,
12.2 percent below a year ago.
The median price in the West was
$388,500, up 4.1 percent from
September 2017.