Report: Oahu home sales up despite high housing prices - Hawaii News Now - KGMB and KHNL

Report: Oahu home sales up despite high housing prices

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HONOLULU (HawaiiNewsNow) -

Single-family home prices are through the roof, but that’s not stopping people from buying.

The Honolulu Board of Realtors said the number of single-family homes sold on Oahu in November was up 9 percent, compared to the same month last year.

Some good news: For the second month, the median sales prices for single-family homes dropped slightly. In November, the median sales price was $715,500. That’s down from $720,000 in October and a record-high $730,000 in September.

The Honolulu Board of Realtors also said that the median number of days on the market for single-family homes was 21 days. For condominiums, it was 22 days.

Jack Legal, president of the Honolulu Board of Realtors, said the number of homes sold plus the relatively short number of days homes are on the market illustrate “how strongly the demand remains for housing on Oahu.”

The median sales price for condominiums was $347,500 in November, up 1.3 percent from the same month last year.

Meanwhile, there were 358 condo sales in November, down slightly from the same month last year, when were 363 sales.

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