Home Sales Up on Oahu

HONOLULU (KHNL) - While real estate markets across the nation experience instability, Oahu's market continues on a steady path.

Home resale figures out Wednesday from the Honolulu Board of Realtors shows a jump in both home sales and prices.

The median price of a home on Oahu jumped to $650,000 in August, 2.4% higher than it was the same time last year.

Despite the jump in prices, 381 Oahu homes were sold, that's 30 more than August of 2006.

For condo's, the outlook was also bright for sellers, with a jump in median prices to $325,000, up 6.6% from the same time last year.

However, condo sales were significantly lower, 495 condo's were sold in August, down almost 15% from the same time last year.