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The Honolulu Advertiser

Updated at 10:27 a.m., Wednesday, May 2, 2007

O'ahu single-family home, condo prices surge in April

By Andrew Gomes
Advertiser Staff Writer

Sale prices for O'ahu existing single-family homes and condominiums last month surged to near-records after four months of weakness, according to a Honolulu Board of Realtors report.

The median single-family home resale price in April was $665,000, an 8.1 percent rise from a year earlier and the second-highest price since the peak of $668,300 in May 2006.

The median condo price was $325,000, a 9.6 percent rise from a year earlier and the second-highest price since the July 2006 record of $329,000.

Sales volume was up for single-family homes by 3 percent to 342 units. Condo sales dropped by 9.8 percent to 527 units.

Year to date, sales are down 5.3 percent for single-family homes, and down 16.9 percent for condos.

Median prices during the first four months of the year are up 1.1 percent for single-family homes, and up 5.6 percent for condos over the same period last year.

Reach Andrew Gomes at agomes@honoluluadvertiser.com or 525-8065.