During March, sales of 249 single-family homes and 331 condominiums were reported through the Board's MLS, decreases of 2.4% and 8.1%, respectively, for single-family homes and condominiums from March 2010. The median price paid for island properties in March was $548,500 for single-family homes and $315,000 for condominiums, a decrease of 8.6% for single-family homes and a 1.6 percent 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 41days up from 34 and condominiums listing for 46 days up from 36.

"The Oahu median prices for both single-family homes and condominiums are still constant, while the sales volume for the market has slowed," said Joyce Nakamura, President of the Honolulu Board of REALTORS®. "As evidenced in the increase of pending sales, there is a continued demand for residential

properties, especially in the high-end market. The tightened inventory levels and low mortgage interest rates make it an opportune time for well-qualified buyers to purchase a home."

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