Fewer Honolulu homes were sold in April this year compared with last year, but the median price of a home in Honolulu is continuing to rise, according to the latest data from the Honolulu Board of Realtors.
The analysis found that the median price of a home rose to $648,000 in April compared with $625,000 in April last year. The median price of a condo also rose to $355,000 compared with $335,000 the previous year.
But sales of both homes and condos fell. Just 247 homes were sold in April, down nearly 12 percent from the 280 homes sold last year. There were also a dozen fewer condo units sold.
Julie Meier, president of the Honolulu Board of Realtors, said in a press release that the organization is still optimistic despite the decrease in sales.
“The low days on market is a positive indicator that buyer demand is strong,” she explained. Homes spent a median of 21 days on the market, two days less than last year. “Also it’s important to note that prices for both homes and condos rose from the previous year, which means the market is stable.”
— Anita Hofschneider
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