Median Oahu home sales price last month: $664K - Hawaii News Now - KGMB and KHNL

Median Oahu home sales price last month: $664K

HONOLULU (AP) - The median price for an Oahu single family home last month was $664,000, an 11.6 percent increase compared to May 2011.

The Honolulu Board of Realtors says that's a high since June 2007.

During May, there were 243 single-family homes sold, which is the same amount during the same month last year.

The median condo price last month was $300,000, a 3.4 percent increase from May 2011. There were 371 condos sold, a 12.4 increase from last year.

Board President Joe Paikai says a large number of luxury home sales resulted in prices peaking at $664,000. He says an increase in pending sales for single-family homes and condos makes the board optimistic about the summer.

Copyright 2012 The Associated Press. All rights reserved.

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