Oahu home sales increase, sales of condominiums drop

More single-family homes on Oahu sold at a lower median price last month compared with September 2018, while fewer condominiums sold at a higher price, according to data of home resales collected by the Honolulu Board of Realtors.

According to HBR’s multiple listing service system, 347 single-family home sales closed in September at a median sales price of $777,000. That’s a 12.3% increase in the number of sales and 4.4% drop in median sales price. In September 2018 there were 309 single-family home sales at a median price of $812,500.

Honolulu Board of Realtors President Jenny L. Brady said a large increase in the sales of midprice family homes — or in the $500,000-to-$699,999 range — contributed to the drop in the median sales price. She said 2019 year-to-date sales of single-family homes are at levels comparable to last year and that the median sales price remains stable.

There were 466 condominium sales on Oahu last month at a median sales price of $445,000, according to the Realtors’ MLS service. That’s an 8.8% drop in the number of sales and a 4.0% increase in the median sales price. In September 2018 there were 511 condominium sales at a median sales price of $428,000.

Brady said median sales price for condominiums increased because fewer in the midprice — or in the $300,000-to-$599,999 range — sold in September.