Oahu Home, Condo Resale Volume Up In Oct.Resale Medians Mixed Compared To SeptemberPOSTED: 10:29 am HST November 3,
2009 HONOLULU -- The number of single-family homes and condominiums resold on Oahu in October jumped compared to the previous month and during the same time last year, according to the Honolulu Board of Realtors.There were 281 single-family homes resold in October compared to 244 in September and 243 during October 2008.Condominiums saw an even bigger jump. There were 381 condos resold in October compared to 345 in September and 316 during October 2008.The big increases can likely be attributed to homebuyers trying to take advantage of the federal tax credit before it expired.The median prices for resales fluctuated slightly. Single-family homes saw a slight increase of $5,000 to $605,000 from September to October. The median price for condominiums dropped $10,000 to $295,000 during that same time period."The current rate of sales for both single-family homes and condominiums were both slightly up in October, which is truly encouraging in light of the overall economy," Honolulu Board of Realtors President Sandra "Sam" Bangerter said. "The median prices for single-family homes were up a bit and down for condominiums, but still within relatively stable price ranges. The first-time homebuyer federal tax credit has been helpful in raising buyer awareness."The total dollar sales for Oahu through October this year were $2.388 billion. That is a drop of 26.6 percent, or $867 million, compared to the same time period last year.
The number of properties sold in these transactions do not include new home sales of housing developments. Copyright 2009 by KITV.com All rights reserved. This material may not be published, broadcast, rewritten or redistributed. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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