During November, sales of single-family homes and condominiums increased by 15.5 percent and by 9 percent, respectively, from November 2011. The median price paid for island properties in November was $640,000 for single-family homes and $325,000 for condominiums, increases of 10.3 percent and 10.2 percent, respectively, compared to the same month last year.
According to the Days on Market indicator, sales of both single-family homes and condominiums were accepted at a faster pace last month compared to a year ago, with single-family properties listing for 29 days and condominiums listing for just 22 days.
“The local real estate market has been picking up momentum over the last few months, and the month of November continued the trend with increased property sales and prices on Oahu,” said Joe Paikai, president of the Honolulu Board of REALTORS®. “As 2012 comes to a close, we can be extremely optimistic about the strength of the market going into 2013.”
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