Oahu Home, Condo Resale Volume Up In Oct.

HONOLULU - KITV.com

The number of single-family homes and condominiums resold on Oahu in October jumped compared to the previous month and during the same time last year, according to the Honolulu Board of Realtors.

There were 281 single-family homes resold in October compared to 244 in September and 243 during October 2008.

Condominiums saw an even bigger jump. There were 381 condos resold in October compared to 345 in September and 316 during October 2008.

The big increases can likely be attributed to homebuyers trying to take advantage of the federal tax credit before it expired.

The median prices for resales fluctuated slightly. Single-family homes saw a slight increase of $5,000 to $605,000 from September to October. The median price for condominiums dropped $10,000 to $295,000 during that same time period.

"The current rate of sales for both single-family homes and condominiums were both slightly up in October, which is truly encouraging in light of the overall economy," Honolulu Board of Realtors President Sandra "Sam" Bangerter said. "The median prices for single-family homes were up a bit and down for condominiums, but still within relatively stable price ranges. The first-time homebuyer federal tax credit has been helpful in raising buyer awareness."

The total dollar sales for Oahu through October this year were $2.388 billion. That is a drop of 26.6 percent, or $867 million, compared to the same time period last year.

Oahu Median Resale Prices
Month, Year	Single-Family	Condominium
October 2009	$605,000	$295,000
September 2009	$600,000	$305,000
August 2009	$566,000	$290,000
July 2009	$595,000	$312,000
June 2009	$569,000	$310,000
May 2009	$550,000	$305,000
April 2009	$585,000	$310,000
March 2009	$600,000	$305,000
February 2009	$555,000	$297,000
January 2009	$539,500	$305,000
December 2008	$626,500	$305,000
November 2008	$594,500	$316,200
October 2008	$625,000	$325,000

The number of properties sold in these transactions do not include new home sales of housing developments.

Oahu Resale Volume
Month, Year	Single Family	Condominium
October 2009	281	381
September 2009	244	345
August 2009	247	351
July 2009	265	327
June 2009	254	293
May 2009	225	263
April 2009	189	256
March 2009	188	248
February 2009	129	160
January 2009	122	159
December 2008	194	243
November 2008	170	201
October 2008	243	316

Most Popular Stories at KITV

• Boulder Tumbles Onto Pali Highway
• Driver In Stolen SUV Shot At Waikele Center
• Dirty Dining: Restaurant Inspections Plunge
• Legislators Pacify Business Owners' Concerns
• Critical Accident Closes Part Of King St.

MORE FROM KITV-TV

KITV-TV Section Front

Halawa Heights Road Closed Shoppers Get Early Jump On Holiday Buying Find Out What HI Stores Are Open, When Hawaii Store Hours For Black Friday Power Outage Hits Hundreds Of Homes KITV-TV Section Front   Add KITV-TV headlines to your news reader: