Don't say I didn't warn you. The number of home sales on Oahu jumped in May, and prices also posted gains compared to the same month last year. Year-to-date sales rose by 40 percent!!!
The median price of a single-family home in May was $606,000, 12 percent higher than May 2009, when the median price was $542,000. That was based on 284 home sales, which was a 31.5 percent increase over 216 sales in May 2009.
Condo sales on Oahu soared 35.5 percent in May to 355 units sold, up from 262 units sold last May, and the median price rose 4 percent to $312,500.
There were 1,183 sales of single-family homes during the first five months of the year, which was a 40 percent gain over the same period in 2009. Condo sales totalled 1,605 during the January-May period, a 47.5 percent gain over 2009.