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*Median price means half the prices were above and half below the given price.

During February, sales of 157 single-family homes and 231 condominiums were reported through the Board's MLS, an increase of 21.7 percent for single-family homes and an increase of 44.4 percent for condominiums, compared to the same month last year. The median prices paid for island properties in the February was $570,000 for single-family homes and $298,000 for condominiums, a decrease of 3.6 percent for single-family homes and an increase of 0.33 percent for condominiums from February 2009. The year-to-date total dollar sales volume generated in the housing market through February was $ 390.5 million, an increase of 39.3 percent or $ 110.1 million, compared to the $ 280.4 million produced one year ago.

*Median price means half the prices were above and half below the given price.

During January, sales of 162 single-family homes and 227 condominiums were reported through the Board's MLS, an increase of 32.8 percent for single-family homes and an increase of 42.8 percent for condominiums, compared to the same month last year. The median prices paid for island properties in the January was $597,500 for single-family homes and $299,000 for condominiums, an increase of 10.8 percent for single-family homes and a decrease of 2 percent for condominiums from January 2009. The year-to-date total dollar sales volume generated in the housing market through January was $190.7 million, an increase of 31 percent ($45 million), compared to the $145.6 million produced one year ago.

*Median price means half the prices were above and half below the given price.

During November, sales of 249 single-family homes and 407 condominiums were reported through the Board's MLS, an decrease of 2.5 percent for single-family homes and an increase of 8.5 percent for condominiums, compared to the same month last year. This brings total single-family home sales on Oahu to 2,318 for the first eleven months of 2009, a decrease of 9 percent over the same time period one year ago. Total condominium sales through November were 3,118, a 15.5 percent decrease from last year. The median prices paid for island properties in the first eleven months of 2009 was $580,000 for single-family homes and $302,750 for condominiums, decreases respectively of 7.0 percent and 6.8 percent from the same time period on 2008. The year-to-date total dollar sales volume generated in the housing market through November was $2.665 billion, a decrease of 22.7 percent or $781 million, compared to the $3.446 billion produced one year ago.

*Median price means half the prices were above and half below the given price.

During October, sales of 281 single-family homes and 381 condominiums were reported through the Board's MLS, increases of 15.6 and 20.5 percent, respectively, compared to the same month last year. This brings total single-family home sales on Oahu to $1.447 billion for the first ten months of 2009, a decrease of 23.9 percent over the same time period one year ago. Total condominium sales through September were $940.43 million, a 30.4 percent decrease from last year. The median prices paid for island properties in the first ten months of 2009 were $575,000 for single-family homes and $300,000 for condominiums, decreases respectively of 8.0 percent and 7.7 percent from the same time period in 2008. The year-to-date total dollar sales volume generated in the housing market through October was $2.388 billion, a decrease of 26.6 percent, or $867 million, compared to the $3.255 billion produced one year ago.

*Median price means half the prices were above and half below the given price.

During September, sales of 244 single-family homes and 345 condominiums were reported through the Board’s MLS, an increase of 13.5 percent for single-family homes and an increase of 13.1 percent for condominiums, compared to the same month last year. This brings total single-family home sales on Oahu to 1,788 for the first nine months of 2009, a decrease of 16.2 percent over the same time period one year ago. Total condominium sales through September were 2,338, a 26.32 percent decrease from last year. The median prices paid for island properties in the first nine months of 2009 were $575,000 for single-family homes and $300,000 for condominiums, decreases respectively of 8.0 percent and 7.7 percent from the same time period in 2008. The year-to-date total dollar sales volume generated in the housing market through September was $2.021 billion, a decrease of 31.7 percent, or $938 million, compared to the $2.959 billion produced one year ago.

*Median price means half the prices were above and half below the given price.

During August, sales of 247 single-family homes and 351 condominiums were reported through the Board’s MLS, a decrease of 3.1 percent for single-family homes and an increase of 1.7 percent for condominiums, compared to the same month last year. This brings total single-family home sales on Oahu to 1,619 for the first eight months of 2009, a decrease of 15.6 percent over the same time period one year ago. Total condominium sales through August were 2,058, a 28.2 percent decrease from last year. The median prices paid for island properties in the first eight months of 2009 were $570,000 and $305,000, respectively, decreases of 9.4 percent for single-family homes from the same time period in 2008 and 7.6 percent for condominiums. The year-to-date total dollar sales volume generated in the housing market through August was $1.81 billion, a decrease of 32.2 percent, or $862.4 million, compared to the $2.67 billion produced one year ago.

*Median price means half the prices were above and half below the given price.

Released: Tuesday, June 2, 2009

HONOLULU - The Honolulu Board of REALTORS® released resale figures today for the month of May. According to the analysis conducted by the Board, using data collected from its computerized Multiple Listing Service (MLS) system, the statistics are:

May 2009 Residential Resales Statistics for Oahu Single Family Home Resales
	Number of Sales	This Month Compared To	Median* Sales Price	This Month Compared To
May 2009	225		$ 550,000
April 2009			$ 585,000	dn 6.0%
May 2008	252	dn 10.7%	$ 649,500	dn 15.3%
Condominium Resales
	Number of Sales	This Month Compared To	Median* Sales Price	This Month Compared To
May 2009	263		$ 305,000
April 2009			$ 310,000	dn 1.6%
May 2008	382	dn 31.2%	$ 337,300	dn 9.6%
Click here to view May 2009 Resales Charts.
*Median price means half the prices were above and half below the given price.

During May, sales of 225 single-family homes and 263 condominiums were reported through the Board's MLS, decreases of 10.7 percent for single-family homes and 31.2 percent for condominiums, compared to the same month last year. This brings total single-family home sales on Oahu to 853 for the first five months of 2009, a decrease of 27.8 percent over the same time period one year ago. Total condominium sales through April were 1,087, a 39.7 percent decrease from last year. The median prices paid for Oahu properties in the first five months of 2009 were $570,000 and $305,000, respectively, decreases of 9.5 percent for single-family homes from the same time period in 2008 and 7.6 percent for condominiums. The year-to-date total dollar sales volume generated in the housing market, through May, was $948.3 million, a decrease of 43.2 percent, or $721.8 million, compared to the $1.670 billion produced one year ago.

"The Oahu residential housing market is still weak but there are indications that we may be near the bottom," said Sandra "Sam" Bangerter, President of the Honolulu Board of REALTORS®. "Single-family home sales rebounded a bit in May and the sales speed of 49 days was faster than at the same time last year. While prices were lower for single-family dwellings, the condominium median price has been holding quite steady at just over $300,000. These are just some of the signals that our housing market may be starting to return to normalcy."

"Mainland cities have experienced significant inventory bloat and, with limited demand, this is the culprit in their falling prices," added Harvey Shapiro, Research Economist at the Honolulu Board of REALTORS®. "The fact that Oahu's inventory of available properties continues to be low is the important factor that is keeping our prices more stable. Prices in some single-family home neighborhoods, like Hawaii Kai and Mililani, are have decreased less than 7 percent, while prices in some condominium neighborhoods, like Kapahulu-Diamond Head, Ala Moana-Kaka'ako and Kailua, actually rose in May. In an otherwise lackluster housing market, these positives may predict a turnaround for real estate, even as the state's economic conditions continue to deteriorate."

The public is encouraged to visit the Board's Internet web site at www.HiCentral.com to see what's happening in the housing market. The public has the ability to search through Oahu single-family home and condominium listings, available for sale and for rent, and to see a comprehensive guide of homes that will be open to visit this Sunday. All searches can be done by geographic location, price range or both. HiCentral.com provides useful information about buying and selling real estate in Hawaii.

Established in 1922, the Honolulu Board of REALTORS® is one of the largest of 1,600 boards of REALTORS® in the nation and, with over 5,500 members, the largest trade organization on Oahu. Membership is available to licensed real estate brokers, agents, property managers, appraisers, counselors and others engaged in all aspects of the real estate industry pledged to adhere to a strict Code of Ethics and Standards of Practice. For more information, call (808) 732-3000 or visit www.HiCentral.com.

(This report reflects information about resales of existing properties only and does not include new home sales. All of the MLS information is compiled from sales reported during the cited months; this data is known only after closing of escrow. The time delay between the signing of a sales contract and the closing of escrow is usually between one and three months.)

Released: Monday, May 4, 2009

HONOLULU - The Honolulu Board of REALTORS® released resale figures today for the month of April. According to the analysis conducted by the Board, using data collected from its computerized Multiple Listing Service (MLS) system, the statistics are:

April 2009 Residential Resales Statistics for Oahu Single Family Home Resales
	Number of Sales	This Month Compared To	Median* Sales Price	This Month Compared To
April 2009	189		$ 585,000
March 2009			$ 600,000	dn 0.3%
April 2008	256	dn 26.2%	$ 639,000	dn 8.5%
Condominium Resales
	Number of Sales	This Month Compared To	Median* Sales Price	This Month Compared To
April 2009	257		$ 310,000
March 2009			$ 305,000	up 1.6%
April 2008	384	dn 33.1%	$ 327,000	dn 5.2%
Click here to view April 2009 Resales Charts.
*Median price means half the prices were above and half below the given price.

During April, sales of 189 single-family homes and 257 condominiums were reported through the Board's MLS, decreases of 26.2 percent for single-family homes and 33.1 percent for condominiums, compared to the same month last year. This brings total single-family home sales on Oahu to 628 for the first four months of 2009, a decrease of 32.4 percent over the same time period one year ago. Total condominium sales through April were 824, a 42 percent decrease from last year. The median prices paid for island properties in the first four months of 2009 were $575,000 and $305,000, respectively, decreases of 8.0 percent for single-family homes and 7.3 percent for condominiums from the same time period in 2008. The total dollar sales volume generated in the housing market for the first four months of this year was $708.3 million, a decrease of 46 percent, or $602.5 million, compared to the $1.31 billion produced one year ago.

"The slow sales in the Oahu residential housing market are indicative of the weak economic conditions in Hawaii and worldwide," said Sandra "Sam" Bangerter, President of the Honolulu Board of REALTORS®. "However, for those potential homeowners who can secure the right financing they'll find properties with good value."

"The relatively low inventory of available properties for sale on Oahu is what's keeping our prices more stable than in other parts of the country," added Harvey Shapiro, Research Economist at the Honolulu Board of REALTORS®. "Financing remains a problem for would-be buyers, but we're hopeful that the government intervention will begin working and the tight credit markets will start easing soon."

Released: Thursday, April 2, 2009

HONOLULU - The Honolulu Board of REALTORS® released resale figures today for the month of March. According to the analysis conducted by the Board, using data collected from its computerized Multiple Listing Service (MLS) system, the statistics are:

March 2009 Residential Resales Statistics for Oahu Single Family Home Resales
	Number of Sales	This Month Compared To	Median* Sales Price	This Month Compared To
March 2009	188		$ 600,000
February 2009			$ 555,000	up 8.1%
March 2008	282	dn 33.3%	$ 628,000	dn 4.5%
Condominium Resales
	Number of Sales	This Month Compared To	Median* Sales Price	This Month Compared To
March 2009	248		$ 305,000
February 2009			$ 297,000	up 2.7%
March 2008	392	dn 36.7%	$ 329,300	dn 7.4%
Click here to view March 2009 Resales Charts.
*Median price means half the prices were above and half below the given price.

During March, sales of 188 single-family homes and 248 condominiums were reported through the Board’s MLS, decreases of 33.3 percent for single-family homes and 36.7 percent for condominiums, compared to the same month last year. This brings total single-family home sales on Oahu to 439 for the first three months of 2009, a decrease of 34.8 percent over the same time period one year ago. Total condominium sales through March were 567, a 45.3 percent decrease from last year. The median prices paid for island properties in the first three months of 2009 were $570,000 and $300,000, respectively, decreases of 8.1 percent for single-family homes from the same time period in 2008 and 9.1 percent for condominiums. The total dollar sales volume generated in the housing market for the first three months of this year was $502.5 million, a decrease of 48.4 percent, or $471.6 million, compared to the $974.1 million produced one year ago.

“The Oahu residential housing market bounced back in March, with sales rising substantially from the last two months,” said Sandra “Sam” Bangerter, President of the Honolulu Board of REALTORS®. “Compared to last year, however, the market is still very weak and we expect these slower conditions to continue until there is better economic news in Hawaii.”

“Even with the healthier March numbers, the housing market on Oahu is still contracting,” added Harvey Shapiro, Research Economist at the Honolulu Board of REALTORS®. “Prices are still relatively strong, although there are median price declines in many neighborhoods, but nowhere near the percentage declines experienced on the Mainland. Buyers may perceive that we’ve hit the bottom of this market and may be returning from the sidelines, but the key factor will be financing availability to go along with the historically low mortgage rates.”

The Honolulu Board of REALTORS® also released resale figures for the first quarter of 2009. According to the analysis conducted by the Board, using data collected from its MLS system, the statistics are:

2009 First Quarter Residential Resales Statistics for Oahu Single Family Home Resales
	Number of Sales	This Quarter Compared To	Median* Sales Price	This Quarter Compared To
1st Quarter 2009	439		$ 570,000
4th Quarter 2008			$ 610,000	dn 6.6%
1st Quarter 2008	673	dn 34.8%	$ 620,000	dn 8.1%
Condominium Resales
	Number of Sales	This Quarter Compared To	Median* Sales Price	This Quarter Compared To
1st Quarter 2009	567		$ 300,000
4th Quarter 2008			$ 315,600	dn 4.9%
1st Quarter 2008	1,037	dn 45.3%	$ 330,000	dn 9.1%
*Median price means half the prices were above and half below the given price.

During the first quarter, the number of sales declined from one year ago and the median price paid for a single-family home decreased by 8.1 percent and the condominium price decreased by 9.1 percent. The total dollar volume of sales was $502.5 million in the first quarter, a decrease of $471.6 million, or 48.4 percent, from the $974.1 million in sales achieved in the same quarter last year.

The following table provides the quarterly median prices for the Oahu neighborhood groups (change compares 1st Quarter 2009 to 4th Quarter 2008):

GEOGRAPHIC AREA	SINGLE FAMILY HOMES	Change	CONDOMINIUMS	Change
Entire Island	$ 570,000		$ 300,000

Metro Oahu (Town)	$ 635,000		$ 297,200
Diamond Head	$ 880,000		$ 360,000
Hawaii Kai	$ 750,000		$ 500,000
Kailua	$ 692,000		$ 375,000
Kaneohe	$ 621,500		$ 422,500
North Shore	$ 567,600		$ 332,000
Central Oahu	$ 557,500		$ 299,000
Leeward Coast	$ 336,300		$ 119,500
Ewa Plain	$ 461,500		$ 290,000
Makakilo	$ 500,000	NC	$ 241,000
Waipahu	$ 506,000		$ 287,000
Pearl City	$ 560,000		$ 266,300

HONOLULU - The Honolulu Board of REALTORS® released resale figures today for the month of February. According to the analysis conducted by the Board, using data collected from its computerized Multiple Listing Service (MLS) system, the statistics are:

February 2009 Residential Resales Statistics for Oahu Single Family Home Resales
	Number of Sales	This Month Compared To	Median* Sales Price	This Month Compared To
February 2009	129		$ 555,000
January 2009			$ 539,500	up 2.9%
February 2008	163	dn 20.9%	$ 599,000	dn 8.2%
Condominium Resales
	Number of Sales	This Month Compared To	Median* Sales Price	This Month Compared To
February 2009	160		$ 297,000
January 2009			$ 305,000	dn 2.6%
February 2008	321	dn 50.2%	$ 335,000	dn 11.3%
Click here to view February 2009 Resales Charts.
*Median price means half the prices were above and half below the given price.

During February, sales of 129 single-family homes and 160 condominiums were reported through the Board’s MLS, decreases of 20.9 percent for single-family homes and 50.2 percent for condominiums, compared to the same month last year. This brings total single-family home sales on Oahu to 251 for the first two months of 2009, a decrease of 35.8 percent over the same time period one year ago. Total condominium sales through February were 319, a 50.5 percent decrease from last year. The median prices paid for island properties in the first two months of 2009 were $550,000 and $300,000, respectively, decreases of 8.3 percent for single-family homes from the same time period in 2008 and 9.1 percent for condominiums. The total dollar sales volume generated in the housing market for the first two months of this year was $280.5 million, a decrease of 53.1 percent, or $318.0 million, compared to the $598.5 million produced one year ago.

“While sales in Oahu residential housing have slowed, the median prices have remained steady unlike many markets in the Mainland,” said Sandra “Sam” Bangerter, President of the Honolulu Board of REALTORS®. “Fortunately, we have don’t have the overabundance of inventory that is threatening most of the Mainland markets and the sizable number of properties that went into pending status during February proves that there continues to be a demand for our residential dwellings.”

Established in 1922, the Honolulu Board of REALTORS® is one of the largest of 1,600 boards of REALTORS® in the nation and, with over 6,000 members, the largest trade organization on Oahu. Membership is available to licensed real estate brokers, agents, property managers, appraisers, counselors and others engaged in all aspects of the real estate industry pledged to adhere to a strict Code of Ethics and Standards of Practice. For more information, call (808) 732-3000 or visit www.HiCentral.com.

HONOLULU - The Honolulu Board of REALTORS® released resale figures today for the month of January. According to the analysis conducted by the Board, using data collected from its computerized Multiple Listing Service (MLS) system, the statistics are:

January 2009 Residential Resales Statistics for Oahu Single Family Home Resales
	Number of Sales	This Month Compared To	Median* Sales Price	This Month Compared To
January 2009	122		$ 539,500
December 2008			$ 626,500	dn 13.9%
January 2008	228	dn 46.5%	$ 600,000	dn 10.1%
Condominium Resales
	Number of Sales	This Month Compared To	Median* Sales Price	This Month Compared To
January 2009	159		$ 305,000
December 2008			$ 305,000	No Change
January 2008	324	dn 50.9%	$ 324,000	dn 5.8%
Click here to view January 2009 Resales Charts.
*Median price means half the prices were above and half below the given price.

During January, sales of 122 single-family homes and 159 condominiums were reported through the Board’s MLS, decreases of 46.5 percent for single-family homes and 50.9 percent for condominiums, compared to the same month last year. The median prices paid for island properties in the first month of 2009 were $539,500 and $305,000, respectively, decreases of 10.1 percent for single-family homes from the same time period in 2008 and 5.8 percent for condominiums. The total dollar sales volume generated in the housing market for the first month of this year was $145.6 million, a decrease of 57.9 percent, or $199.9 million, compared to the $345.5 million produced one year ago.

“The current economic conditions are causing buyers to take a ‘wait-and-see’ attitude, as evidenced by the slow sales in Oahu’s residential housing marketing during January,” said Sandra “Sam” Bangerter, President of the Honolulu Board of REALTORS®. “We hope that the federal efforts to restore not only the housing markets, but the entire economy, will be successful.”

“It appears that the housing market in Hawaii is now following the same pattern as on the Mainland, namely very slow sales and diminishing prices,” added Harvey Shapiro, Research Economist at the Honolulu Board of REALTORS®. “Everything continues as normal, but smaller in scale, with a limited inventory and fewer new listings being added to the market. However, the increase in the number of properties that were put into pending status during January predicts that the market could be expanding in the coming months.”

*Median price means half the prices were above and half below the given price.

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