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The Honolulu Advertiser
Posted on: Wednesday, April 7, 2010

Oahu home sales, median price rise in March from year ago

Advertiser Staff

The median price and number of homes sold on Oahu rose in March from the same month a year earlier, the Honolulu Board of Realtors reported today

The median sales price of a single-family home rose to $599,000 in March, up from $575,000 in March 2009. There were 251 sales for the month, up 32 percent from 190 a year earlier.

"Sales in the Oahu residential real estate market have continued to boom over the past several months and prices have remained relatively steady, which is good news for both homebuyers and sellers," said Brian Benton, president of the Honolulu Board of Realtors.

For condominiums, the median price rose to $310,000 in March from $300,000 a year earlier. The number of condos sold rose to 352, a 36 percent increase from 258 in March 2009.

In another sign the Oahu residential real estate market is improving, homes spent fewer days on the market, the Board of Realtors said.

It took 72 days on average to sell a home in March, down from 80 days a year earlier. For condos the number of days on market fell to 67 from 79.