O'ahu home resale market on the rise, report says
| • | Chart: O'ahu home resales for June |
Advertiser Staff
Halfway through the year, the O'ahu home and condominium resale market is doing better than at the same time last year, with dollar volume sales up 4.3 percent to $952.6 million, according to figures released yesterday.
Gains in both single-family home and condominium resales propelled the increase, the Honolulu Board of Realtors said in its monthly resales report.
In the first six months this year, 1,646 homes were sold, up 10 percent, and 2,059 condominiums were sold, up 9.2 percent.
For the month of June, single-family home resales surged 15.4 percent to 338, and condominium sales increased 5.2 percent to 343 units.
Still, sales prices were mixed. Single-family homes had a median price of $305,000 in June, down 2.1 percent from last year but up 5.4 percent from May.
The $139,000 median price for condominiums was an increase from last year and May, up 4.2 percent and 3.3 percent, respectively.
If sales remain at this pace for the rest of the year, the board estimated 7,400 homes and condominiums would be sold — almost double the lowest annual sales rate of 1996.
