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The median price of a single-family home on Oahu declined slightly in November to $715,500, but overall sales increased by nearly 10 percent compared with the same time last year, according to the Honolulu Board of Realtors.
In November 2014 the median price for a single-family home on Oahu was 719,500, a difference of 0.6 percent.
HOME SALES
The number of homes sold on Oahu in November with the median price and percentage change from the same month last year:
Homes |
Sales |
Median |
Price |
November 2015 |
246 |
$715,500 |
November 2014 |
225 |
$719,500 |
Change |
9.3% |
-0.6% |
Condos |
Sales |
Median |
Price |
November 2015 |
358 |
$347,500 |
November 2014 |
363 |
$343,000 |
Change |
-1.2% |
1.3% |
Source: Honolulu Board of Realtors |
Last month, sales of single-family homes rose to 246 from 225 in November 2014.
Meanwhile the median sales price of condominiums on Oahu rose to $347,500 in November from $343,000 at the same point last year. Total condominium sales declined to 358 from 363 last year.
According to the “Days on Market” indicator, single-family homes spent a median span of 21 days on the market last month; the median days on market for condominiums was 22 days.
Honolulu Board of Realtors President Jack Legal said the numbers from the latest monthly report were positive overall, given that there was little drop-off from the record-setting figures of November 2014.
“What’s really remarkable is that while the median price of single-family homes in November 2015 dropped slightly compared to last year, the number of properties sold shot up nearly 10 percent,” Legal said in a statement released today. “That figure, plus the median days on market statistic, clearly illustrates how strongly the demand remains for housing on Oahu.”