Home sales are slowing on Oahu, but sales prices aren’t dropping

Home sales are slowing on Oahu, but sales prices aren’t dropping
GF Default - Median price of single-family home on Oahu hits record high

HONOLULU (HawaiiNewsNow) - Sales of single-family homes and condos slowed on Oahu last month, but sales prices ticked up slightly.

The Honolulu Board of Realtors reports that 208 single-family homes sold on Oahu last month, down about 4 percent from a year ago.

Meanwhile, the median sales price rose about 2 percent last month to $789,000.

The median price means half of homes sold above that figure while half sold below.

The Board of Realtors said 321 condos sold on Oahu last month, down 16 percent from a year ago.

The median sales price was $415,000.

“We continued to see slower sales in Oahu’s housing market in February, but at higher prices with modest increases for both single-family homes and condominiums,” said Jenny L. Brady, president of the Honolulu Board of Realtors, in a news release.

“We’re also seeing double digit increases in active listings. Steady sales volume, moderate price increases, and more inventory across all price ranges are all positive indications of a healthy real estate market.”

In fact, the number of active listings in February for single-family homes ― 1,436 ― was up 41 percent compared to the same month last year.

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