The median price of a home and condo in Honolulu have both increased compared with July last year, according to new data from the Honolulu Board of Realtors.

The median price of a home was $683,500, an increase of 5.6 percent. The median price of a condo was $351,750, up 1.8 percent from last year. Sales of both also rose, as well as the average number of days on the market.

In June, the Honolulu median home price hit a record high of $700,000.

Honolulu July 2014 Home Price

Julie Meier, president of the Honolulu Board of Realtors, said the increase in the average number of days that homes and condos stayed on the market in July shows that inventory is increasing.

“This is great news for the market, where demand continues to outpace supply,” Meier said. “Overall, sales are right in line with what we expected for this time of year, and are indicative of a very healthy housing market.”

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