Oahu Condominium Prices Set New Record in July

Real Estate

“Median sales prices for condominiums are the highest we’ve seen as prices have continued to soar,” said Sue Ann Lee, president of Honolulu Board of REALTORS®. “The new record-high for median sales prices for Oahu condos was set in April of this year at $415,500 and then replaced by the new median sales price of $425,000 set last month. Condos and townhouses at midrange price points are a likely alternative when there is a lack of affordable single-family home inventory, causing the median sales price to shift up. In July, the spike in median days on market for single family homes to 20 was skewed by 23 homes closing after more than 200 days on market.”*

 

*As reported by the Honolulu Board of REALTORS