Very Strong Oahu Real Estate Market Shows Seller’s Market Now

Since the mortgage interest rate is appearing at historic lows, the east Oahu real estate market is getting more and more hot. The following examples tell us that this is a very strong seller’s market. It’s a wonderful time to sell your properties.

3448 James St.

• (MLS# 1208840)
• Interior: 784 sq.ft.
• Land: 2,250 sq.ft.
• 2 bedroom/1 bathroom
• Listing Price: $549,000
• Sold Price: $570,000
• Listing in escrow in 10 days

1732 Waiola St.

• (MLS# 1210164)
• Interior: 672 sq.ft.
• Land: 1,680 sq.ft.
• Listing Price: $450,000
• Sold Price: $455,000 (I represented the Buyer to purchase this property)
• Listing in escrow less than one week

715 Kunawai Lane

• (MLS# 1211336)
• Interior: 1,032 sq.ft.
• Land: 3,116 sq.ft.
• 3 bedroom/2 bathroom
• Listing price: $549,000
• It got 12 offers. I represented my client to make the offer. We did not get accepted.
• It’s right now in escrow.

2222 Mahalo St.

• (MLS# 1211745)
• Interior 1,496 sq.ft.
• Land: 5,046 sq.ft.
• 3 bedroom/2 bathrooms
• Listing price: $525,000
• It also got 12 offers, I was one of them again. It’s still in price negotiation period, but my client’s offer is out of seller’s sight.

What Does This Mean?

What these examples tell us is that we need more listings. A lot of Buyers qualified for a loan under $600,000 are looking for single family houses in east Oahu, but there are very, very low inventories.

This is a very strong signal to sellers. If you want to sell your property, you should take advantage of this time, list your property at the right price, and it could be in escrow in less than one week.