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Posted: Wednesday, March 3rd, 2010 4:55 AM HST

Oahu records strong home sales in February

By Associated Press

HONOLULU (AP) — The Honolulu Board of Realtors says Oahu's residential real estate market enjoy strong sales during February. The board reported Tuesday that 157 single-family homes traded hands last month, a 21.7 percent increase from February 2009. In addition, 231 condominiums were reported sold, a 44.4 percent jump. The median sales price for single-family homes rose 3.6 percent in February to $570,000. For condos, February's median sales price remained virtually unchanged at $298,000. Board President Brian Benton called February's sales figures "very encouraging" for Oahu's real estate market. He says there's been a great deal of pent up demand from consumers, and current market conditions are getting them to get back into the real estate market. (Copyright 2010 Associated Press. All rights reserved)