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Oahu home sales rise in August, but prices still lower

By Star-Advertiser staff

LAST UPDATED: 05:11 p.m. HST, Sep 07, 2011

 Foreclosures have slowed on Oahu. This 2,222-square-foot home in Kaneohe is for sale by a lender asking $725,000. The home previously sold in 2005 for $755,000.

The Honolulu Board of Realtors today reported that purchases of previously owned single-family homes on Oahu jumped 21 percent last month to 279 from 231 a year earlier. Condominium sales also rose, jumping 15 percent to 338 from 294 in the same period.

The gains were the first since February for any month compared with the same month last year.

But median prices remain in negative territory where they have been almost every month this year.

The median price for single-family homes sold in August was down 13 percent to $557,500 from $641,277 a year ago. Condos sold for a median $300,000 in August, down 1 percent from $303,000 a year earlier.

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