Oahu's housing market still stable

The Honolulu Board of Realtors says Oahu’s existing housing market remained relatively stable in July.The board said Monday that 268 single-family homes traded hands last month, compared with 266 in July of last year.

The median sales price for the July sales was $605,000, up 1.7 percent from the $595,000 posted the year before.

Meanwhile, the number of condominiums sold in July fell 6.7 percent to 320, and the median sales price for condos dropped 2.7 percent to $299,000.

The board also said sales closed faster in July, with single-family homes listing for 39 days, down from 45 days, and condos down to 36 days from 56.

Board President Brian Benton says Oahu’s market seems to be doing better than its counterparts on the Mainland.

Maui News_