Oahu homes snapped up at record rate in August, despite high prices

Oahu homes snapped up at record rate in August, despite high prices

HONOLULU (HawaiiNewsNow) - Supply is short and demand so high that not even Oahu's hot housing prices are keeping buyers away.

In fact, Oahu single-family and condo sales hit their highest point in more than 10 years last month, according to real estate firm Locations.

In August, the median price for a single-family home was $786,000. (The all-time high was $795,000 in June).

And experts say they're expecting prices to continue to rise over the last few months of the year.

"Oahu's real estate market showed continued stable growth in August, with moderate increases in median price and new listings for both single-family homes and condominiums," said Scott Higashi, president and CEO of Locations.

Meanwhile, condo sales saw a 16 percent increase in sales year over year.

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