Kailua Market Update – Kailua Market Numbers ROCK Again in May

Here we go again…

The Honolulu Board of Realtors has published their Local Market Update for May, and once again, Kailua ROCKS the market.

Kailua Real Estate Market Trends For May 2013

Compared to May 2012 and compared to April 2013:

• The median sale price for single family homes is up to an outstanding $870K
• The percent of the Original List Price received is 99% (where else in the U.S. does that happen?)
• Days On Market (DOM) are down to 13
• Inventory is again down

We are still seeing not only multiple offers and escalation clauses, but cash buyers who are not as concerned with appraisal values.

My Advice for Sellers in Kailua

I’ve seen several “For Sale By Owner” listings in Kailua lately, and from talking with those owners, I’ve learned that they think real estate sells itself here, so they don’t need to hire an agent…and maybe that house will sell from a Craigslist ad, but consider this:

If they’d used an agent to help market the home to hundreds of thousands of people, sold the home in 13 days, and known how to best take advantage of that multiple offer scenario, how much less time, energy, and worry would they have spent, and how much more money would they have netted in that sale? Craigslist doesn’t exactly attract the $870K crowd, you know.