For first time since 2012, Honolulu saw its annual median home price drop (but not by much)

For first time since 2012, Honolulu saw its annual median home price drop (but not by much)
(Source: HNN file)

HONOLULU, Hawaii (HawaiiNewsNow) - The median home price on Oahu grew to $820,000 in December, up 4% from a year ago, new figures from the Honolulu Board of Realtors show.

Median sale prices also grew 6.8% for condos ― to $425,000.

But while December went out with a bang, the median sales price for a single-family home in 2019 ― $789,000 ― was down .1% from the year before.

Though tiny, it was the first decline in the annual median sales price on Oahu since 2012.

Condo prices continued to grow, however, ending the year at a median of $425,000.

The Honolulu Board of Realtors notes that the last 10 years have been a “period of recovery” for Oahu’s housing market ― with a number of records set.

In 2010, the median price of a single-family home on Oahu was $592,750.

Even with the slight drop in 2019, Honolulu’s median home price is still 33% higher than it was a decade ago.

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