During February, sales of 181 single-family homes and 295 condominiums were reported through the Board's MLS, increases of 2.3% and 20.9%, respectively, for single-family homes and

condominiums from February 2010. The median price paid for island properties in February was $570,000 for single-family homes and $320,000 for condominiums, a decrease of 1.0% for single family homes and a 7.0% increase for condominiums, compared to the same month last year. According to the Days on Market indicator, sales closed at a slower pace last month compared to a year ago with single-family homes listing for 58 days up from 38 and condominiums listing for 58 days up from 51.

"February is historically the lowest sales month of the year, but sales for both single-family homes and condominiums were up last month compared to last year, which shows that there is still pent up demand in the marketplace," said Joyce Nakamuara, president of the Board of REALTORS®. "There's also a new energy in the market with sellers often seeing multiple offers on properties that are well priced coupled with low mortgage rates for prospective homeowners."

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