Home prices on Oahu decline in May as inventory rises

Home prices on Oahu declined in May by single digits, compared to a year ago, while the number of sales were mixed, with condominium sales rising 5% and single-family sales declining by 4%, according to statistics from the Honolulu Board of Realtors.

There were 520 condominium units sold on Oahu in May, an increase of 5.1% from 495 units sold in May of last year. The median condo price was $417,500, a 2.9% decrease from $430,000 last year.

The median single-family home price was $770,000, which…

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