Home sales on
Oahu up 4.7%
in November

Condominium purchases,
however, tumble 12.5 percent

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Star-Bulletin staff

The number of Honolulu home resales rose 4.7 percent in November from a year ago, while condominium sales dropped 12.5 percent.

Some 267 single-family homes were sold on Oahu, up from 255 in November 2000, according to monthly statistics released today by the Honolulu Board of Realtors. The figures do not include sales of newly built homes.

The median home sale price rose 5.1 percent to $310,000 from $295,000.

Condominium resales fell to 302 from 345 during the same period, although the median sale price jumped 12 percent to $136,500 from $122,000. The median sale price is the point at which half the homes sold above the given price and half sold below.

"We still believe that the events of September 11 had a minimal impact on the Oahu housing market," said Peter Freeman, president and chief executive of the Honolulu Board of Realtors. "Sales reported for November include many properties that had signed sales agreements during September."

The 3,500-member Honolulu Board of Realtors tracks Oahu residential transactions recorded in its computerized Multiple Listing Service.