(Image: Hawaii News Now)(Image: Hawaii News Now)

HONOLULU (HawaiiNewsNow) -

Homes on Oahu sold faster and for higher prices than ever before, according to a June report by real estate firm Locations Hawaii. 

The median price for a single-family home? A whopping $795,000.

Locations analyzed sales activity for over 350 neighborhoods and found home prices reached record highs.

June’s median price for a single-family home eclipses the previous record of $760,000 reached in February.

Also, both single-family homes and condos spent just 14 days on the market.

Condo bid-ups reached their highest lever ever in June, with 27 percent being sold above asking price.

The company says the market sees no sign of slowing, especially during the busy summer months.

“The Oahu real estate market continues to reach new highs as demand simply exceeds the available inventory,” says Scott Higashi, CEO of Locations Hawaii. “We anticipate the competitive market to continue to drive prices up and consume inventory.”

Copyright 2017 Hawaii News Now. All rights reserved.



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