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.
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