HONOLUU (KHON2) – The price for a single-family home on Oahu has increased once again despite the amount of people purchasing a house on the island decreasing.
This is according to Locations LLC which offers thousands of Hawaii real estate listings from the major islands.
They came out with their overview of the Oahu market for the month of Oct. 2022 and found a single-family home is on the market for more than one million dollars.
Their findings show the median price increased by five percent from a year ago and the condo median price has increased three percent from a year ago.
This data is interesting because despite the continual rise in home prices from year to year, single-family home sales fell by 43 percent from Oct. 2021 and condo sales declined by 28 percent.
For more information or to browse available houses on Oahu head to their website.
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Although sales are down houses aren’t sitting on the market for too long. According to their data single-family homes spend less than three weeks on the market.