Mar 7, 2014, 6:59am HST
Bill Cresenzo Reporter – Pacific Business News
The median price of a condominium on Oahu hit a record high of $359,450 in February, while the price of a single-family home rose 13 percent, according to figures released Friday by the Honolulu Board of Realtors.
The condo median price was a 5.7 percent increase from the the median price in February 2013, which was $340,000. The previous condo price record of $350,000 was set in August, the board said.
Sales of condos rose 6.1 percent, to 296 units sold in February from 279 units sold during the same month last year.
The median price of a single-family home rose 13.2 percent to $679,000, from $600,000 in February 2013. Sales dipped 5.5 percent, to 201 homes sold from 190.
“These are very good numbers for what is historically our slowest month of the year,” Julie Meier, president of the Honolulu Board of Realtors, said in a statement. “Sales of single-family homes were down mainly due to a lack of inventory in the mid and lower price bands.”
Sales in February included a $9 million home in Lanikai, Meier noted.
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