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The Honolulu Advertiser

Updated at 4:09 p.m., Thursday, November 1, 2007

Oahu median home price edges up to $655,000

By Andrew Gomes
Advertiser Staff Writer

The median price for existing O'ahu single-family homes sold last month continued to hover around $650,000 as Hawai'i's largest housing market exhibited more price stability amid declining sales.

October's single-family home resale price was $655,000, up 1.6 percent from $645,000 in the same month last year, according to sale data compiled by the Honolulu Board of Realtors.

The number of sales was down 10.5 percent to 265 compared with 296 in the same period.

Condominiums sold last month for a median $322,500, up 4 percent from $310,000 a year earlier. There were 423 condo sales, down 0.5 percent from 425 a year earlier.

For the first 10 months of the year, the single-family home median price is $649,000, up 2.2 percent from $635,000 in the same period last year. The number of sales is down 7.6 percent to 3,142 for the period.

The year-to-date median price for condos is $325,000, up 4.8 percent from $310,000 in the same period last year. The number of sales is down 13.3 percent to 4,767.

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