Honolulu, Hawaii 2021-06-05 23:20:30 –
Honolulu (KHON2) — Prices for single-family homes on Oahu continue to rise, with median prices currently approaching $ 1 million.
Median single-family home prices reached $ 985,000 in May, according to real estate firm Locations.
This is a new record, with a 23% price increase from 2020. May sales also remained high for the first time in 17 years, up 58% from 2020.
The median condo price in May was $ 460,000, a record high. Condominium sales increased 133%, the highest in 15 years.
Competition remains fierce as buyers are willing to pay more than the asking price.
Bid prices increased 56% for single-family homes and 36% for condominiums.
Oahu real estate market shows single-family homes selling for $1M Source link Oahu real estate market shows single-family homes selling for $1M