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The Honolulu Advertiser
Updated at 4:56 p.m., Thursday, May 1, 2008

Oahu median home price down 3.9% in April

Advertiser Staff

The median sale price of existing O'ahu single-family homes fell 3.9 percent in April from the same month a year earlier, the third straight decline and the biggest so far this year.

The Honolulu Board of Realtors said previously owned homes sold for a median $639,000 in April, compared with $665,000 in the same month last year.

There were 256 sales, down 25.1 percent from 342 sales in the same comparable period.

Condominium resales last month totaled 384, down 27.1 percent from 527 a year earlier. The median condo price was $327,000, up 0.6 percent from $325,000 in the same period.

Earlier this year, single-family home median sale prices were unchanged in January, then declined 2.5 percent in February and 2.4 percent in March.

Still, for the first four months of the year, the single-family home resale price is $625,000, down just 0.8 percent from $630,000 at the same time last year. The median is a point at which half the homes sold for more and half for less.