Oahu Market Update - August 2007
Oahu Real Estate - LIVE from Hawaii
http://www.realestateofoahu.com/ - Search Oahu MLS
While some real estate markets across the nation continue to experience instability, the Oahu real estate market continues on a steady path, according to resale figures released by the Honolulu Board of Realtors for the month of August.
During the month of August, sales of 381 single-family homes and 495 condominiums were reported through the Honolulu Board of Realtor's MLS system. The median price paid in August for a single-family home was $650,000. On the other hand, the median condominium price was $325,000 - an increase of 6.6% from August of last year.
While prices for single-family home sales are up, the market saw an 8.5% increase in the number of homes sold (381 August 2007 vs. 351 sold in August 2006). On the other hand, condominium sales this month reflects a decrease of sales from the same time last year. During the month of August 495 condominiums sold, reflecting an 14.7% decrease compared to 580 sold July of last year.
Overall, these Oahu real estate market statistics reflects a healthy market in which buyers and sellers have a level playing field and both parties can find a happy median to achieve their goals.
Until next time...All the best!
June Mellor - Your Source for Oahu Real Estate
http://www.realestateofoahu.com
* Source for Oahu statistics: The Honolulu Board of REALTORS®
** Stats may or may not include new development sales or private party sales (For Sale By Owners), dependant upon whether those subject properties were entered into the MLS.
