Oahu Single-Family Homes and Condominium Sales Dip in May
Sales for Oahu single-family homes and condominiums dropped while median prices rose modestly in May according to resales figures released today by the Honolulu Board of REALTORS®.
During May 2018, the median sales price for single-family homes increased by 4.4 percent to $778,000 from May 2017. The median price for condos increased by 5.8 percent to $430,000.
Sales of single-family homes and condominiums both decreased by 8.3 percent from the same month last year. According to the Days on Market indicator, the median days for single-family homes was 14 and 19 days for condominiums.
“The Oahu market experienced a very deep trough with sales in January and February and we continue to slowly trend upwards,” said the President of the Honolulu Board of REALTORS®. “Pending sales are also experiencing a slow climb and we’re anticipating sales to peak in late summer.”
Source: Honolulu Board of REALTORS®
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