Oahu condo median sale price jumps 10% in September 2017

Oahu condo median sale price jumps 10% in September 2017. The Honolulu (Oahu) Real Estate statistics show that prices for condominiums have matched July’s high of $425,000 in September. This is shown in Oahu real estate statistics for the month of September 2017, which were released today. According to the analysis by the Honolulu real estate board, using data collected from its computerized Multiple Listing Service (MLS) system, the Oahu island housing supply and statistics are:

*Median price means half the prices were above and half below the given price.

September 2017 Median condo sale prices hit record high for Oahu

During September, the median price paid for single-family homes increased by 1.3% year over year to $760,000. The median price for condominiums increased by 10.9% percent from last year to  $425,000. Sales of single-family homes increased by 13.7 percent year over year, while condominium sales increased by 2.7 percent from September 2016. According to the Days on Market indicator, single-family homes and condos were both on the market for 14 and 19 days, respectively.

October 7 News Release: September 2017 Honolulu real estate statistics

“The median sales price for condominiums in September is once again the highest we’ve seen in less than a year as the median sales price tied with the all-time record high of $425,000 set in July 2017,” said Sue Ann Lee, president of Honolulu Board of Realtors. “Despite sales prices hitting the record-high twice in one year, condos and townhouses are still proving to be a popular alternative for homebuyers as evidenced by the 11.6% increase in pending sales. The continued need for affordable housing and lack of sufficient inventory to meet this growing demand can be demonstrated by the decrease in new listings and five percent decrease in Days on Market.”