Article: Oahu home sales decline, although prices are holding

Honolulu's cooling real estate market has gotten colder, with significant sales declines in both existing homes and condos on Oahu, according to the latest data released by the Honolulu Board of Realtors.

Home sales dropped 33 percent and condo sales dropped 30 percent in August compared with a year ago. Only 255 existing single-family homes were sold in August this year, compared with 381 in August 2007, despite a 2.3 percent drop of the median home price to $635,000.

A total of 345 condos changed hands in August compared with 495 a year ago. The median condo price, however, went up a scant 0.9 percent to $328,000 from $325,000 in August 2007.

Dana Chandler, president of the Board of ...

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