COVID19 UPDATE
Oahu

Oahu Home Sales Down, While Median Price Up to $605,000

The same ‘ole story has finally changed. After almost of year of writing articles on how our sales volume is increasing on Oahu, July was the first month where we didn’t outpace the previous year’s overall numbers. Single family home resales just barely outpaced July of 2009 by two sales, while condo sales were down from 343 to 320.

In addition to the volume working its way up, so were the prices until June when they went flat. Prices for single family homes however rebounded with a median sales price of $605,000. Condo prices were down from June and 2.7% off last year’s prices.

What is this trend showing? In my opinion, buyers are realizing there are opportunities out there and the single family home market is where it’s been (as of lately). That’s why we’re seeing the volume and prices remaining strong in that segment of the market. With interest rates at an all time low, those that can qualify for a loan are seeking opportunity. If you’re looking for to purchase a home and take advantage of this, contact one of us for more information.

In addition, here is what WAS HOT and WHAT WAS NOT in July:

What areas were Hot in July?

What areas were not?

  • Kaneohe sales were down 50%
  • Wahiawa sales were down 29.3% from $138,000 to $97,500

 

Comments (4) Show CommentsHide Comments (Remember)

Cool. Add your comment...

Your email address will not be published. Required fields are marked *

Leave your opinion here. Please be nice. Your Email address will be kept private, this form is secure and we never spam you.

Annie Mendoza

August 19, 2010

Wow, David! It’s great to see these statistics. Mahalo!

Annie Mendoza

August 19, 2010

Wow, David! It’s great to see these statistics. Mahalo!

The Real Estate Market is Doomed, Head for Hawaii « Hawaii Real Estate Market

September 6, 2010

[…] year, inventory is down, pending home sales are up, the percentage of list price received is up, median prices are up, days on market are down, etc. (Of course, I’m a Realtor, so everything is rosy and […]

The Real Estate Market is Doomed, Head for Hawaii « Hawaii Real Estate Market

September 6, 2010

[…] year, inventory is down, pending home sales are up, the percentage of list price received is up, median prices are up, days on market are down, etc. (Of course, I’m a Realtor, so everything is rosy and […]

More Articles from Hawaii Life