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More Oahu homes sold in October

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Low interest rates and a higher inventory of homes on the market helped produce more sales of previously-owned housing on Oahu last month.

Buyers also generally acquired more expensive condominiums and slightly less expensive single-family homes in October compared with the same month last year.

These were the broad trends in a report on Oahu’s housing market released today by the Honolulu Board of Realtors.

The number of single-family home sales last month rose 12% to 347 compared with 309 a year earlier.

Condo sale volume increased by nearly 7% to 472 from 443 in the same period.

The median price paid for single-family homes in October was $780,000. That was down almost 3% from $800,000 a year earlier.

Condos sold for a median $441,000 last month, up 13% from $390,000 a year earlier.

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