Oahu home, condo sales, prices increased in August

HONOLULU (AP) - The Honolulu Board of Realtors says the Oahu real estate market ended with summer with strong numbers.

According to release figures for the month of August, the median price of a single-family home jumped 9 percent from $557,500 to $609,000, compared to the same month last year. Sales last month increased 5 percent from 279 to 293.

Last month's median condominium price was $320,000, a nearly 7 percent increase from $300,000, compared with August 2011. The number of condo sales increased 21 percent from 338 to 409.

Board President Joe Paikai says this has been one of the best summers Oahu's real estate market has seen in many years. He says it's a good indicator the market is finally recovering.

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