June

STRONG SALES CONTINUE IN OAHU RESIDENTIAL REAL ESTATE MARKET

**Honolulu Board of REALTORS® Releases June Residential Resales Statistics**

HONOLULU — Strong sales continued in Oahu’s residential real estate market in June according to resale figures released today by the Honolulu Board of REALTORS®. According to the analysis conducted by the Board, using data collected from its computerized Multiple Listing Service (MLS) system, the statistics are:

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

During June, sales of 285 single-family homes and 396 condominiums were reported through the Board’s MLS, increases of 8.4 percent and 38.0 percent, respectively, from June 2009. The median price paid for island properties in the June was $575,000 for single-family homes and $300,000 for condominiums, an increase of 0.9 percent for single-family homes and a decrease of 3.2 percent for condos, compared to the same month last year. According to the Days on Market indicator, sales also closed faster in June with single-family homes listing for 32 days, down from 48 days, and condominiums down to 31 days from 47.

“The June statistics show that Honolulu’s real estate market continues to recover,” said Brian Benton, President of the Honolulu Board of REALTORS®. “Median prices for both single-family homes and condominiums are higher than this time last year, and pending sales for single-family homes are also up and should be reflected in the sales numbers over the next couple of months.”

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 5,800 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.)