Another reason why Honolulu is a great place for real estate investment.
The median price of luxury single-family homes and condominiums on Oahu climbed almost 10 percent in November, according to figures from Coldwell Banker Pacific Properties.
The median price of homes that sold for at least $1 million was $1.495 million, compared to the $1.371 million price tag that was hit in November 2013.
Sales were down slightly, with 67 homes and condominiums sold, compared to the 70 sold in November 2013.
"Multiple offers on properties are pushing up the median sales price," said Patti Nakagawa, Previews International Director for Coldwell Banker Pacific Properties.
The highest priced home that sold in November was a 13-bedroom, 14-bath, 11,684-square-foot-home in Kailua that sold for $9.5 million, Coldwell Banker Pacific Properties said.
Courtesy of Pacific Business News.