Oahu home sales pick up, but prices tick downward

Oahu home sales pick up, but prices tick downward
GF Default - Median price of single-family home on Oahu hits record high

HONOLULU (HawaiiNewsNow) - After a slow first quarter, Oahu saw home sales increase last month ― even as the median sales price declined slightly.

The median sales price for single-family homes on Oahu in April was $766,750.

That’s down about 3 percent from same month last year, and its lowest level since March 2018.

The median price means half the prices were above that figure and half were below it.

As prices dropped slightly, the number of homes sold went up ― to 318 in April compared to 276 the month before.

The median sales price for a condo on Oahu last year was $418,950, up slightly from a year ago.

Jenny L. Brady, president of the Honolulu Board of Realtors, said low mortgage interest rates and more inventory “presented better opportunities for potential homebuyers and spurred more of them to buy.”

In fact, the number of active listings for single-family homes last month was up 32 percent from the year before, while the number of active listings for condominiums grew by 18 percent.

The Board of Realtors said single-family homes stayed on the market for a median of 25 days.

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