Oahu home sale prices spike in June
May 23, 2017 | 73° | Check Traffic

Top News

Oahu home sale prices spike in June


Increased demand for higher-end homes on Oahu helped produce a spike in the median sale price of single-family homes last month that came close to an all-time record for a single month, according to a report released today by the Honolulu Board of Realtors.

The median sale price in June rose a fairly modest 9 percent to $677,250. But that was enough to almost reach the $685,000 peak for a single month in June 2007.

However, for the first six months of this year, the median single-family home sale price is up just 0.8 percent to $625,000 compared with $619,750 for the same period last year. The annual median price peaked at $643,500 in 2007.

The volume of June home sales rose 10 percent to 308 from 279 in the same month last year. Year-to-date, the number of sales is up 12 percent to 1,540 from 1,380 a year earlier.

In Oahu’s condominium market, the median sale price rose 11 percent to $330,000 in June from $297,000 a year earlier. The number of condo sales rose 15 percent to 392 from 342 in the same period.

No comments
By participating in online discussions you acknowledge that you have agreed to the TERMS OF SERVICE. An insightful discussion of ideas and viewpoints is encouraged, but comments must be civil and in good taste, with no personal attacks. Because only subscribers are allowed to comment, we have your personal information and are able to contact you. If your comments are inappropriate, you may be banned from posting. To report comments that you believe do not follow our guidelines, email commentfeedback@staradvertiser.com.