Oahu single-family home prices drop in May

Published  5:08 PM HST Jun 07, 2013
For Sale Sign in front of home

The median price for a single-family home on Oahu dropped 5 percent last month.
That's according to monthly figures released Friday by the Honolulu Board of Realtors.
The median price of a single-family home in May was $630,000, a 5 percent decrease from $664,000 in May 2012. The number of single-family homes sold during the month increased nearly 10 percent to 266.
May was a better month for condominiums. The median price for a condo was $315,000, up 5 percent from $300,000 during the same month last year. There were 452 condos sold during the month, a nearly 22 percent increase from May 2012.
Board President Kevin Miyama says condo sellers on average received 99 percent of their original listing price.

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