Oahu home median price climbs 15.2%

HONOLULU (AP) - The median price of a single family home on Oahu rose to more than $645,000 last month - a 15.2% increase over August last year. But sales volume fell, reflecting the end of a federal tax credit for first-time home buyers.

Honolulu Board of Realtors President Brian Benton said Wednesday the increase in median prices is a sign that Oahu's market continues to strengthen. The board's monthly data shows 224 homes changed hands last month, down from 239 in August last year and 269 in July this year.

The trend was similar for condominiums: sales volume dropped while prices rose. The median price for an Oahu condominium climbed 6 percent from last August to more than $307,000 last month.

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