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Single-Family Home Prices Dip In May

Number Of Homes, Condos Sold Up Last Month

POSTED: 11:42 am HST June 4, 2007
UPDATED: 1:30 pm HST June 4, 2007

The median-sales price for a single-family home on Oahu dropped in May after a couple months of climbing, according to the Honolulu Board of Realtors.

The median-sales price was $650,000 compared to $665,000 in April. The price ends four months of increases.

Condominium sales remained even at $325,000.

The volume of single-family homes was up over April's 342 with 357 homes sold, but down by about 20 for the same period last year. However, that is the highest number of homes resold on Oahu since September.

The HBR recorded 543 condos sold in May compared to 527 in April. It is also the highest number of condos sold in a month since August.


Oahu Median Resale Prices
Month, Year
Single Family
Condominium
May 2007
$650,000
$325,000
April 2007
$665,000
$325,000
March 2007
$643,500
$321,000
February 2007
$614,500
$320,000
January 2007
$600,000
$320,000
December 2006
$613,500
$315,500
November 2006
$610,000
$310,000
October 2006
$645,000
$310,000
September 2006
$620,000
$320,000
August 2006
$635,000
$305,000
July 2006
$660,000
$329,000
June 2006
$639,000
$310,000
May 2006
$668,300
$306,000


The number of properties sold in these transactions does not include new home sales of housing developments.

Oahu Resale Volume
Month, Year
Single Family
Condominium
May 2007
357
543
April 2007
342
527
March 2007
330
541
February 2007
272
248
January 2007
263
418
December 2006
346
458
November 2006
293
421
October 2006
296
425
September 2006
359
481
August 2006
351
580
July 2006
379
498
June 2006
368
641
May 2006
374
605

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