HONOLULU (KHON2) — The price of a single-family home on Oahu continues to go up, with the median price now nearing $1 million.
According to real estate company “Locations,” the median price of a single-family home in May reached $985,000 dollars.
That is a 23% price jump from 2020 — a new record high. Sales also remained at a 17-year high in May, up 58% over 2020.
The median price of a condo was $460,000 in May, which ties the highest on record. Condo sales were up 133%, a 15-year high.
Competition remains fierce as buyers are willing to pay above the asking price.
Bid-ups jumped 56% for single family homes and 36% for condos.