The number of single-family homes sold on Oahu dropped 10.4% in June while condo sales fell 13.5% compared to the year before, the Honolulu Board of Realtors reported.
At the same time, the median sales price for single-family homes increased 2.3% in June — from $782,388 to $800,000, the Board of Realtors said.
The median sales price for condos jumped 3% — from $420,000 to $432,500.
There were 327 single-family homes sold on Oahu in June, compared to 365 the year before.
In June 2018, there were 547 condo sales on Oahu compared to 473 last month, according to the Board of Realtors.
New listings for single-family homes dropped 8.9% compared to June 2018. But overall inventory increased by 16.7%. The median number of days that a single-family home stayed on the market was 18.
For condos, the number of new listings grew by 6.3% while overall inventory increased by 13.8%. The median number of days that a condo stayed on the market was 27.
In a statement, Jenny L. Brady, president of the Honolulu Board of Realtors said, “While sales volume in June may have declined from last year, the Oahu housing market remain very active and competitive. Even with the increase in inventory, we’re seeing the majority of sold properties on the market for less than 30 days. Additionally, sellers who are working with Realtors are closing with median prices at 98.2% of the original list price for single-family homes and 97.2% for condos.”
Tribune Content Agency