Oahu home prices were up 2.3% for the third quarter of 2007 compared to the third quarter of 2006.  Some economist feel the 4th quarter of 2006 was our bottom for the real estate market here in Hawaii. 

Higher median prices in Diamond Head, Hawai’i Kai, Central O’ahu, the Leeward Coast, Waipahu and Pearl City helped boost O’ahu’s overall median sale price to $649,900 in the quarter, up from $635,000 a year earlier.

Median prices were lower for metro O’ahu, Kailua, Kane’ohe, the ‘Ewa Plain, the North Shore and Makakilo.

Condominiums sold for a median $330,000 in the third quarter, up 4.8 percent from $315,000 in the 2006 third quarter, the report said.

Median condo prices were up in five of 12 regions — Kailua, Kane’ohe, Makakilo, Pearl City and the Island’s biggest condo market, metro O’ahu. Regions with lower median prices were Diamond Head, Hawai’i Kai, the North Shore, Central O’ahu, the Leeward Coast, the ‘Ewa Plain and Waipahu.