HONOLULU (AFX) - Realtors said Friday that home sales in Hawaii fell sharply in August, but median sale prices were still well above a year ago.
The number of existing single-family home sales fell by about a third in August on the Big Island, Kauai and Maui compared to the same month last year.
The Honolulu Board of Realtors reported single-family home and condominium sales down on Oahu last month as well, while median sales prices remained above August of last year.
On the Big Island, 169 homes were sold in August, a 34 percent drop from the 256 sold in August 2005. The median sales price fell from $429,500 to $370,000.
Home sales were notably lower in the resort areas of North and South Kohala. Only 11 homes were sold in South Kohala, compared to 29 in August 2005, according to Hawaii Information Service.
The number of homes sold on Kauai fell to 35 from 56 at the same time last year, a 38 percent decline. But the median price soared to $740,000 compared to $644,500 in August 2005.
Home sales on Maui declined to 95 in August from 129 in the same month last year, according to the Realtors Association of Maui.
The median price in August was $749,000, compared to $670,000 in August 2005. But the month was down from July's record high of $780,000.
On Oahu, sales of 351 single-family homes and 580 condos were reported, decreases of 22.6 percent and 30.2, respectively, compared to August 2005, the realtors board said.
The August median price for single-family homes was $635,000, up 1.6 percent from the same month last year, but down 3.8 percent from July. The median price for condos last month was $305,000, up 8.2 percent from August 2005, but a decline of 7.3 percent from July.
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