Resales of single family homes and condos on Oahu continued April’s downward trend of fewer transactions in the marketplace.
This home (MLS# 1011829) on Oahu’s Windward Coast is listed for the median price of $595,000
The bad news first:
Single family home sales were down 15.3% and condo sales were down 10.3% in May. Median prices also stumbled from last year with home prices down 0.8% to $595,000 and condos down 4.9% to $290,000.
Now, the good news:
Although April and May’s figures were not as strong as last year, both outpaced 2009’s figures. In addition, we are on track for a strong healthy summer as pending home sales are up 22.2% for homes and up 44.3% for condos in May!
What neighborhoods were great for sellers in May?
- Home sales on Downtown-Nuuanu were up 33.3%
- Home prices in Aina Haina–Kuliouou were up 31.6%
- Condo sales in both Kailua–Waimanalo and Makaha–Nanakuli tied at 66.7%
- Condo prices in Ala Moana-Kakaako were up 43.6%
What neighborhoods were great for buyers in May?
- Home sales in Kaneohe were down 61.3%
- Home pricesÂ on the Windward Coast were down 21.4%
- Condo prices along the Windward Cost were down 52.7%
- Condo sales in Mililani were down 42.3%
As always, all real estate is local. To find out whatâ€™s happening in your neighborhood, contact one of ourÂ great Realtors on Oahu to see whatâ€™s going on in your market, and if now is the time to buy or sell.