Oahu home sales starting to pick up
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here are signs in Oahu’s housing market that the pendulum is beginning to swing back in favor of sellers.
Rising prices, a shrinking inventory of unsold homes and sellers receiving multiple offers in some areas of the island all point to a recovery in the market this year, industry officials say. In addition, an increase in “pending sales” — where a buyer has accepted a contract but the sale has not yet closed — bode well for the market.
Oahu’s $645,239 median sales price in August was the highest in more than two years, easily besting $560,000 recorded in August 2009 and $604,500 in July, the Honolulu Board of Realtors reported yesterday.
