According to a report by the Honolulu Board of Reatlors, Oahu's housing market continues to soar, reaching record numbers for highest median single-family home prices on record.
“Demand for limited inventory and increased purchasing power through low-interest rates has placed sustained upward pressure on prices,” said Shannon Heaven, president, Honolulu Board of REALTORS®. “While the record-setting median price and pace are good news for sellers, it creates a challenging environment for buyers who are up against the tough competition.”
The median sales price for single-family homes rose 19.9% over the previous year, reaching a record-high $917,500. Condominium median sales price saw a modest 6.4% increase; however, the number of condomium sales rose 41.1% over the previous year.
Source: Honolulu Board of Realtors