The Honolulu Board of Realtors says the month of October was a great one for Oahu real estate.
During October, sales of single-family homes and condominiums increased by 26.5 percent and by 32.4 percent, respectively, from October 2011.
"October was a great month for the local real estate market. Condo sales, in particular, were extremely strong," said Joe Paikai, president of the Honolulu Board of Realtors. "In fact, condo sales were the highest they have been since July 2010, a definite sign of the market’s continued recovery."
The median price paid for island properties in October was $625,000 for single-family homes and $325,000 for condominiums, increases of 7.9 percent and 6.6 percent, respectively, compared to the same month last year.
Home Resales
October 2012
82 sold
$625,000 Median Price
October 2011
223 sold
$579,000 Median Price
Condominium Resales
October 2012
425 sold
$325,000 Median Price
October 2011
321 sold
$305,000 Median Price
*Median price means half the prices were above and half below the given price.
See the original article at: KHON2 Developing Stories
