Oahu home prices slip as sales volume falls sharply - Pacific Business News (Honolulu):

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The median price of a single-familyh home was $555,000, down 8 percent from the Februaryu 2008 median priceof $599,000, accordinhg to the monthly statistics from the . The price was based on 129 sales, down from 163 housexs sold inFebruary 2008. The majorituy of houses sold in February were inEwa Beach, Waipahu, Mililani and Kailua, while areas such as the North Shore and the Kapahulu-Diamond Head area of Honoluluy saw fewer than a half-dozen sales. “While salew in Oahu residential housingyhave slowed, the median prices have remained steaduy unlike many markets in the Mainland, said boared President Sandra “Sam” Bangerter.
“Fortunatelhy we don’t have the overabundance of inventoryg that is threatening most of the Mainlanf markets and the sizable number of properties that went into pending statuxs during February proves that there continuez to be a demand for ourresidentiak dwellings.” Meanwhile, the median price of a condominium in February fell 11 percent to $297,000, down from $335,00 in February 2008. That was based on sales of 160 down from the 320 units sold inFebruary 2008. Most of thosre sales were in Waikiki, where the 26 units sold were more than 64 perceny fewer than the 73 units that sold in Februarg oflast year.
Makiki, Moiliili, Ewa Beach and Kapolei all saw sales of more than a dozehnunits each, which was about 40 percenr off last year’s sales.