August 2012 Oahu Real Estate Report

The Oahu market continues to heat up, as both median prices and number of sales increase. Single family home prices continue their seven-month trend upward.

For the three-month period ending in July 2012, the median price for single family homes is up 9.8% to $636,900 and the median price for condominiums is up 4.5% to $305,000, compared to the same period last year.  In that same period, sales increased 5.8% for single family homes and 10.6% for condominiums compared to last year.

The current market environment favors both sellers and buyers right now: record low interest rates, increasing sales (indicating a strong demand), and rising values have put the market bottom behind us.