March 2010 housing statistics: Sales and prices up in Oahu housing market

Median sales prices and the number of sales in the Oahu residential real estate market were both up in March, according to resale figures released today by the Honolulu Board of REALTORS®. According to the
analysis conducted by the Board, using data collected from its computerized Multiple Listing Service
(MLS) system, the statistics are:
Single-Family Home Resales
Number of          This Month              Median*                This Month
Sales               Compared To          Sales Price            Compared To

March 2010             251                                                 $ 599,000
February 2010         178                                                 $ 576,000
March 2009             190                   up 32.1%                $ 575,00                 up 4.2%
Condominium Resales

Number of          This Month              Median*                This Month
Sales               Compared To          Sales Price            Compared To

March 2010           352                                                  $310,000
February 2010       242                                                  $300,000
March 2009           258                    up 36.4%                $300,000                up 3.3%
*Median price means half the prices were above and half below the given price.
During March, sales of 251 single-family homes and 352 condominiums were reported through the
Board’s MLS, an increase of 32.1 percent for single-family homes and an increase of 36.4 percent for
condominiums, compared to the same month last year. The median prices paid for island properties in the
March was $599,000 for single-family homes and $310,000 for condominiums, increases of 4.2 percent
3.3 percent, respectively, from March 2009.
“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,” commented
Brian Benton, President of the Honolulu Board of REALTORS®. “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.”