During June, sales of 248 single-family homes and 354 condominiums were reported through the Board's MLS, decreases of 15.9% and 19.9%, respectively, for single-family homes and condominiums from June 2010. The median price paid for island properties in June was $562,500 for single-family homes and $301,000 for condominiums, a decrease of 3.4% for single-family homes and an increase of 0.3% for condominiums, compared to the same month last year. According to the Days on Market indicator, sales closed at a similar pace last month compared to a year ago with single family homes listing for 36 days and condominiums listing for 39 days.

"The median prices for Oahu single-family homes and condominiums have remained relatively stable," said Joyce Nakamura, President of the Honolulu Board of REALTORS®. "This time last year, market activity was boosted by the first-time homebuyer credit, so the decrease in sales recorded over last year is not unexpected. We're also experiencing a decrease in inventory on Oahu, which is a positive indicator of

continued strong demand in the market. It's a much more sustainable environment."

For market statistics charts and more information click here.