Posted at 9:50 a.m., Tuesday, April 3, 2007
O'ahu March median home price slips 1% to $643,500
Advertiser Staff
The price of a single-family home on O'ahu slipped 1 percent to $643,500 in March from the same month a year earlier, while the volume of sales tumbled 16 percent, the Honolulu Board of Realtors reported today.A total of 330 single-family homes were sold in March, down from 392 in March 2006, the Board reported. While the median price was down from a year ago, it was up from $614,500 in February.
The median price for a condominium rose 1.9 percent to $321,000 in March from the same month a year earlier. The volume of condo sales fell 22 percent during the same period.
"The housing market continued to perform as expected during March and there were some positive signs that the market may be picking up soon," said Berton Hamamoto, president of the Honolulu Board of Realtors.
Hamamoto cited a decline in the number of days that homes are on the market and a reduction in inventory of unsold homes.
