Posted at 10:23 a.m., Friday, September 2, 2005
O'ahu home prices rebound to record $625,000 in August
By Rick Daysog
Advertiser Staff Writer
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The Honolulu Board of Realtors said today that the median price for a single-family condo on O'ahu increased to $282,000 last month up 35.7 percent from August 2004's $207,800.
Last month's median price for a single-family home compares with August 2004's $450,000 and the previous record of $610,000 in May 2005. In June and July, median prices dipped below the $600,000 mark.
A total of 455 single-family homes were sold last month, up 11 percent from the year-earlier month's 410. The number of condos sold increased 14.1 percent to 831 from 728 in August 2004.
"While sales growth appeared to have flattened earlier this year, the August figures show that we're back on track for another record year," said Judith Kalbrener, President of the Honolulu Board of Realtors.
