The median price paid for island properties in October was $625,000 for single-family homes and $325,000 for condominiums, increases of 7.9 percent and 6.6 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 36 days and condominiums listing for just 31 days.
“October was a great month for the local real estate market. Condo sales, in particular, were extremely strong,” said Joe Paikai, president of the Honolulu Board of REALTORS®. “In fact, condo sales were the highest they have been since August 2007, a definite sign of the market’s continued recovery.”
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