September Oahu house, condo sales up; Prices down

HONOLULU (AP) - Sales of Oahu homes and condos were up last month compared to the same time last year, while prices dropped.

Honolulu Board of Realtors President Joyce Nakamura says September's numbers are encouraging and reflective of current low interest rates.

She says foreclosures and short sales continue to drive prices down.

According to the board's statistics released Friday, there were 284 single-family homes sold in September, a 4% increase from 273 in September 2010. The median price was $570,000, down 8% from $620,000 last year.

Last month, 364 condos were sold, a 19% increase from 306 in September 2010. The median condo price was $316,500, a 4% drop from last year.

Houses were on the market for 31 days and condos listed for 39 days.

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