Oahu Real Estate March Market Update

During March, sales of 282 single family homes and 392 condos were reported sold by the Honolulu's MLS, decreases of 14.5% for single family homes and 27.5% for condos, compared the same month last year. There were a total of 673 home sales on Oahu for the first three months of 2008, a decrease of 22% over the same period one year ago. Total condo sales the first three months were 1037, a 23% decrease from last year.

The median prices paid for single family homes and condos on Oahu were $628,000 and $329,500. Single family home prices saw a decrease of 2.4%, while condos saw an increase of 2.6%. The housing market as a whole saw a price decrease in total volume of 18%.