Oahu Single Family And Condominium Resales Show Significant Gains in November
Based on data from the Multiple Listing Service, the Honolulu Board of Realtors reports 249 single family home and 407 condominium resales on Oahu during November. This represents an increase of 46.5 percent for single family homes and 102.5 percent for condominiums compared to November 2008, when the figures were 170 and 201, respectively.
The median price for single family home resales on Oahu in November 2009 was $590,000 as compared to $594,500 for last November, a decrease of 0.75 percent. The condominium resale median price in November of this year was $320,000, up 1.2 percent from last November’s $316,200.
“The Oahu real estate market continues to experience strong and steady sales, as demonstrated by the more than 100 percent increase in condominium sales last month as compared to last November,” said Honolulu Board of Realtors President Sandra “Sam” Bangerter, Principal Broker of RE/MAX Kai Lani. “The federal tax credits and historically low interest rates are keeping home ownership within reach for qualified buyers.”