Oahu’s housing market felt a little drag in March with slightly fewer sales of single-family homes and condominiums, but the median price for condos set a record for the second time in three months.
Data released today by the Honolulu Board of Realtors showed a 1.3 percent slip in single-family home sales — 305 last month compared with 309 a year earlier — and a 2 percent dip in condo sales to 485 compared with 495.
The median sale price for single-family homes barely budged. It ticked up 1.1 percent to $760,000 in March from $752,000 in the same month last year.
For condos, the median price rose 8.8 percent to $435,000 last month. That was the highest for any month in history. In March 2017, the median condo sale price was $400,000. Last month’s new high mark followed a record $430,000 in January.
Darryl Macha, president of the real estate agent trade association, said the condo median price was influenced by the sale of 20 luxury units last month.
The median price is a point at which half the sales were for a higher price and half for a lower price.