Honolulu Home Price Dips Slightly Compared With August Last Year
The median price of a condo remained steady, according to new data from the Honolulu Board of Realtors.
New data from the Honolulu Board of Realtors reveals that Honolulu’s median home price dropped slightly last month compared with August 2013, falling from $665,000 to $650,000 for a single-family home.
The price of a condo remained the same at $350,000. Sales of homes and condos were also down, as well as the average price of both.
Just two months ago, Honolulu’s median home price hit a record high of $700,000.
Julie Meier, president of the Honolulu Board of Realtors, said the data still shows that Hawaii has a healthy housing market, noting that demand is still high and inventory is rising.
“While on the surface it may look like this past August was not on par with last August for sales of single-family homes, the truth is that August 2013 was a banner month – the high point of sales for the year,” Meier said in a press release. “It would have been very difficult to duplicate that this year. Still, this remains a very healthy market, as evidenced by the fact that the average single-family home was on the block for only 15 days before being sold.”
