Oahu’s housing market ended 2019 with moderate gains in median sale prices for December but fell just short of producing a full-year gain in part of the market.
A report released today by the Honolulu Board of Realtors said the median price for single-family homes sold in December rose 4% to $820,000 from $788,000 in the same month last year.
Yet for the full year, the median price for single-family homes slipped by 0.1% to $789,000 from a record $790,000 the year before. The slight decline was the first annual decrease since 2011 in the wake of a national recession.
In Oahu’s condominium market, the median price rose 7% in December to $425,500 from $398,500 in the same month last year. For the full year, the condo median price edged up 1% to a record $425,000 from $420,000 a year earlier.
Sales volume for December and all of 2019 was mixed, with more single-family home sales and fewer condo sales.
The number of single-family home sales last month jumped 19% to 309 from 259 in the same month the year before. For all of 2019, there were 3,750 single-family home sales, up 4% from 3,609 sales the year before.
Condo sale volume slipped 3% in December to 428 transactions from 440 in the same month the year before. There were 5,408 condo sales last year, down 5% from 5,679 sales in 2018.