Oahu home prices rise modestly in November
December 16, 2017 | 77° | Check Traffic

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Oahu home prices rise modestly in November

Median sale prices for homes on Oahu edged up about 3 percent last month, according to data released today by the Honolulu Board of Realtors.

Previously owned single-family homes sold for a median $773,500 in November. That was up 3.1 percent from $750,000 in the same month last year.

The median sale price for condominiums was $405,000 last month, up 2.5 percent from $395,000 a year earlier.

Demand from buyers was strong. The number of sales rose 12.9 percent for single-family homes, to 332 last month from 294 a year earlier. Condo sale volume jumped 19 percent to 501 from 421 in the same period.

Sales counted in the report are ones that closed in November, and largely reflect purchase contracts signed one to three months prior. The median price is a point at which half the sales were at a higher price and half at a lower price.

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