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The Honolulu Advertiser
Posted on: Thursday, May 6, 2010

Oahu home, condo prices drop, but sales up

Advertiser Staff

Buyers continued to rush back into O'ahu's housing market in April, but median prices fell a bit and ended a three-month run of price gains for single-family homes and a two-month rise for condominiums.

The Honolulu Board of Realtors announced that the median price for single-family homes sold last month was down 6.2 percent to $563,000 from $600,000 in the same month last year.

The decline occurred despite sales surging 52.9 percent to 286 last month from 187 a year earlier.

For condos, the median price slipped 2.2 percent to $308,000 from $314,950. There were 390 condo sales in April, a 48.3 percent gain over 263 a year earlier.