Sales of Oahu homes over $1 million up 14 percent in 2015 - Hawaii News Now - KGMB and KHNL

Sales of Oahu homes over $1 million up 14 percent in 2015

HONOLULU (HawaiiNewsNow) -

Sales of single-family homes over $1 million hit a new record in 2015, with a total of 751 sales, according to Coldwell Banker Pacific Properties.

That's up 14 percent compared to 2014, which recorded 660 closed sales. The previous peak was set in 2006 with 655 closings.

The figures are based on Multiple Listing Service data of all single-family homes sold for $1 million and above in 2015 on Oahu.

"The strong performance in the luxury market can be attributed to an increase in the sales of homes in both the lowest and highest prices ranges," said Patti Nakagawa, Previews International director for Coldwell Banker Pacific Properties.

She said about 81 percent of the 751 sales were $1 million to $2 million. 

Fifteen homes were priced at $6 million and above.

More than half of those sales were purchased by buyers with a mainland address.

The highest-priced sale for 2015 was an oceanfront property in Black Point that sold for more than $19 million.

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