Oahu Home Prices Make Modest February Gains

Updated: Sep 4



In a recent interview with Jenny Brady on KHON she reviews the home prices on Oahu "posted modest gains in February, compared with a year ago, as sales of single-family homes declined by 4 percent and condominium sales dropped by 17 percent, according to the Honolulu Board of Realtors."


"The median price of a single-family home on Oahu last month was $789,000, which was a 2.1 percent increase from $772,500 in February 2018. Sales of single-family homes declined 4.1 percent to 208 houses sold, from 217 houses sold in February last year."


"The number of condos sold last month dropped 16.6 percent to 321 units sold, from 385 units sold in February 2018. The median condo price on Oahu last month was $415,000, which was a 1.5 percent increase from $409,000 in February last year." Janis L. Magin  – Real Estate Editor, Pacific Business News


“We continued to see slower sales in Oahu’s housing market in February, but at higher prices with modest increases for both single-family homes and condominiums,” Jenny L. Brady, president of the Honolulu Board of Realtors, said in a statement. “We’re also seeing double digit increases in active listings.


“Steady sales volume, moderate price increases, and more inventory across all price ranges are all positive indications of a healthy real estate market.”


References:

Hawaii News Now - Home sales are slowing on Oahu, but sales prices aren’t dropping

Honolulu Star-Advertiser - Oahu home prices make modest February gains

Pacific Business News - Oahu home sales drop in February as median prices post gains