Oahu Resale Statistics Positive Throughout First Quarter

Both median prices and number of sales of existing single family and condominium homes on Oahu showed notable increases in March.

Honolulu Board of Realtors statistics reveal that the number of single family home resales in March 2010 was 251, up 32.1 percent over March 2009. The median sales price of $599,000 was up 4.2 percent over last March.

Condominium resales in March rose 36.4 percent over the same period last year, 352 over 258. The median sales price of $310,000 represents an increase of 3.3 percent over last year’s $300,000.

“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 home buyers and sellers,” said Honolulu Board of Realtors President Brian Benton, Prudential Locations Broker In Charge. “Properties are also closing faster than they were this time last year with the Days on Market for single family homes down from 80 to 72 days and condos down from 79 days to just 67.”