Oahu home prices slipped slightly but sales volume rose in November
CINDY ELLEN RUSSELL / Jan. 6
Sales of Oahu single-family homes rose 11% to 320 in November from 288 in the same month last year, a report releases today says. In the condo market, the number of sales edged up 1% to 434 last month from 429 a year earlier. Pictured is an open house sign on Prospect Street in January.
Oahu homeowners sold more property but at slightly lower prices overall last month, according to a report released today.
The Honolulu Board of Realtors report showed that the gain in sales volume was bigger for single-family homes than for condominiums, and that the median price decrease was relatively minuscule for both types of properties.
Sales of single-family homes rose 11% to 320 in November from 288 in the same month last year, the report said.
These homes sold for a median $794,750 last month, or 0.3% less than $797,000 a year earlier. The median is a price at which half the homes sold for more and half for less.
In Oahu’s condo market, the number of sales edged up 1% to 434 last month from 429 a year earlier. The median price was off 1% to $415,000 from $420,000 in the same comparable period.
The trade association for real estate agents counts sales of previously owned homes where transactions closed in November. These sales typically were agreed to under contract one to three months earlier.
