By Dan Dennison
HONOLULU (KHNL) - As expected Oahu's residential real estate market held steady during the first month of 2007. In figures released today by the Honolulu Board of Realtors resales of single family homes declined 13.2% year to year and resales of condominiums declined 17.1% from January 2006 to January 2007. The median prices for single-family homes in January 2007 was $600,000 or a decline of 2.4%. The Oahu condo median price is $320,000 or an increase of 8.5% compared to the year before.
Board of Realtors President Berton Hamamoto says, "We are starting 2007 continuing the same trend as last year, with median prices staying within a pretty narrow trading range. There were no surprises in January as the residential housing market continues to stabilize, but we do see a resurgence in activity going on right now so it will be interesting to see the figures in the coming months."
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