Unemployment rates among the lowest in the country continue to bolster Oahu’s economy, allowing for year-over-year gains in the number of homes and condominiums sold and helping to keep prices relatively stable in the short term and extremely stable during the recent recession which continues to effect many other markets.
Compared to the 1st Quarter of 2010, the number of Closed Sales increased 3.6 percent for single-family homes and 7.1 percent for condos. Year-over-year gains in purchase demand testify to the strength and appeal of our unique island home.
In pricing, condominium values gained some ground last quarter with a 4.1 percent increase in Median Sales Price to $315,000, while for single family homes, a surge in the sales of lower valued homes on the island caused the Median Sales Price to dip by 5.3 percent to $559,000.
For more information about the Oahu real estate market, visit the Market Trends page of our website – KahalaAssociates.com. Simply click on the "Trends" menu of our home page. There you’ll also find our Luxury Market Trends report with information specific to the $1 Million Plus real estate market.
Loading more stuff…
Hmm…it looks like things are taking a while to load. Try again?