11-03-2005, 08:17 AM
| | Oahu's condominium prices hit another record
Oahu's hot housing market, where condominium prices hit another record last month, achieved a new year-to-date sales volume milestone in October by passing the $5 billion mark for the first time.
Total sales of homes this year reached $5.05 billion in October, an increase of more than $1 billion from the same period last year, according to data released yesterday by the Honolulu Board of Realtors.
However, the number of single-family home sales dropped 6.6 percent to 412 last month from the same month last year, and the number of condominium sales fell 6.2 percent to 624.
Oahu's total sales volume has never before come close to $5 billion, said Harvey Shapiro, the board's research economist. "The total number of sales continues to be ahead of last year, even with the slowdown that we've had this month," he said.
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