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Oahu home sales soar in October

By Star-Advertiser staff

LAST UPDATED: 12:14 p.m. HST, Nov 07, 2012

Home buyers were really busy on Oahu last month.

Sales of previously owned homes soared by around 30 percent in October, according to data released today by the Honolulu Board of Realtors. Median prices also rose, but the gain there was a continuation of a trend this year.

The number of single-family home sales jumped 26.5 percent to 282 in October from 223 in the same month last year. Condominium sales surged 32.4 percent to 425 from 321 in the same period.

Sales volume over the first 10 months this year has been increasing at a more moderate pace of about 5.5 percent for single-family homes and condos, the trade association data shows.

The median price for single-family homes in October was $625,000, up 7.9 percent from $579,000 a year earlier. This year through October, the median was $623,250, up 9.3 percent from $570,000 a year ago.

The median condo price in October was $325,000, up 6.6 percent from $305,000 a year earlier. Year-to-date, the condo median was $315,000, up 4 percent from $302,790 a year ago.

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