Posted at 11:32 a.m., Monday, April 16, 2007
O'ahu median existing home price slips to $620K in Q1
Advertiser Staff
The Honolulu Board of Realtors compiled O'ahu home resale statistics for the first three months of the year that show a slight decrease in median single-family home prices and a small increase for condominium prices.Sales volume, according to the data, dropped for both previously owned single-family homes and condos in the January-March period compared with the same three months last year.
The median single-family home sale price was $620,000 in the first quarter, down 0.8 percent from $625,000 a year earlier. The condo median price was $320,000, up 3.6 percent from $309,000.
The number of sales was down 8.3 percent to 865 for single-family homes, and was down 19.3 percent to 1,361 for condos.
Median price data was broken down by 12 regions. For single-family homes, the Diamond Head area had the highest median at $990,000, which was down $3,000 from a year earlier, and the Leeward Coast had the lowest median at $375,000, which was up $20,000.
Condo median prices topped out in Hawai'i Kai at $542,500, which was down $12,500, and bottomed out on the Leeward Coast at $173,000, which was down $5,000.
