Oahu home prices continue to climb - Hawaii News Now - KGMB and KHNL

Oahu home prices continue to climb

HONOLULU (AP) - The Honolulu Board of Realtors says the median price of previously owned homes on Oahu continues to increase.

The board reports single-family houses sold for a median of $675,000 last month.

That's a 6.9 percent rise over the median price of $637,000 in September 2012.

Condominiums sold for a median price of $348,000. That's an 8.9 percent increase over September 2012.

The highest monthly median price for Oahu single-family homes was $685,000 in June 2007.

The highest annual median price also was set in 2007 at $643,500.

For the first nine months of 2013, the single-family house median sale price has been $640,261.

The Honolulu Star Advertiser reports low inventory, low interest rates, higher employment and an improving economy are pushing up demand and prices.

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