Posted at 1:24 p.m., Wednesday, September 3, 2003
Single-family homes hit record high
Advertiser Staff
The median sales price for existing single-family homes on O'ahu hit a record $394,500 in August, the Honolulu Board of Realtors said today.Some 425 homes and 646 condominiums sold last month, up 9.6 percent and 19.6 percent respectively over the same month last year.
"Housing sales on O'ahu maintained their heightened course," said Anne Keamo, board chair. August brought the year-to-date sales to 2,876 for single-family homes and 4,397 for condos.
The month's median price for single-family homes reached an all-time high, the board said, surpassing the $392,000 price recorded in August 1990.
Harvey Shapiro, research economist for the board, said mortgage rates bottomed out in June and rose almost 1 1/2 percent in the past two months, a trend that could impact future sales.
