The median price for an Oahu condominium rose 13.2 percent to a record $430,000 in January, while single-family home prices climbed 5.8 percent to $772,000.
The Honolulu Board of Realtors said in their monthly report that the number of single-family homes sold in January was up 2.0 percent, while condominiums sales decreased by 1.1 percent from January 2017.
“The first months of a new year are traditionally a slower time for housing sales on Oahu, so it’s encouraging to see a slight increase in January sales for single-family homes,” said Darryl Macha, president of the Honolulu Board of Realtors. “What’s especially notable is the jump in the median sales price, which set a new record for condominiums. It’s a strong indication that the demand for housing is still very high, but limited inventory continues to be a challenge for potential homebuyers.”