HONOLULU – Greater buyer demand in August indicates that sale of luxury homes and condominiums on Oahu continue to be a seller’s market according to Coldwell Banker Pacific Properties (CBP), Hawaii’s leading residential real estate firm and a specialist in high-end real estate sales.
The figures are based on Multiple Listing Service (MLS) data of all single-family homes and condominiums sold for more than $1 million in August 2014 on Oahu.
A total of 71 luxury homes changed hands in August, down from 85 in August 2013. However, the median sales price for the luxury range was $1,400,000 compared to $1,340,000 last year.
“It continues to be a seller’s market, with greater buyer demand,” said Patti Nakagawa, Previews International Director for Coldwell Banker Pacific Properties. “For the month of August, sales in the $1 million and higher price range sold for an average of 97 percent of the list price.”