The historically slowest month of the year for sales in Oahu’s housing market produced a slight decrease in single-family home transactions, but median prices for those residences and condominiums rose modestly.
The Honolulu Board of Realtors released data today for sales of Oahu homes in February, and the figures included a 1.8 percent dip in the number of single-family houses sold — 217 last month compared with 221 in the same month last year.
Sales of condominiums rose 6.4 percent to 385 units last month from 362 a year earlier.
Median prices for single-family homes ticked up 2.3 percent to $772,500 last month from $755,000 a year earlier, and for condos rose 6.2 percent to $409,000 from $385,000.
The sales represent transactions of previously owned residences completed in February from purchase contracts typically signed one to three months earlier. The median price is a point at which half the sales were at a higher price and half at a lower price.