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Oahu’s Sales Up, Prices Down in December

Prices Down = Sales Up

The Oahu real estate market continued its run up in the number of sales in December riding on momentum of strong numbers from November. The number of homes that sold on Oahu were up 37% from December of 2008 jumping from 194 sales to 265. Meanwhile, the median sales price for homes on Oahu dropped 12% to $550,000 from $626,500. The condo market told a similar story with sales up 44% from 243 to 349!

This was a strong finish to 2009 considering when you look at the year as a whole, single family home sales on Oahu were down 6% for the year and condo sales were down 8%.  Median sales prices were down 8% for homes and 7% for condos for the year as well.

What does this strong uptick in sales volume mean over the last two months? Buyers are starting to come back into the marketplace because they are realizing prices are down & there are great opportunities out there. My two most recent listings in Diamond Head and Aina Haina were flooded with calls within the first day! We’ll see what 2010 has in store for us…

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Keahi Pelayo

February 3, 2010

If my business was any indication, January was a very good month. Properties sold fast and prices were good.
Aloha,
Keahi

Keahi Pelayo

February 3, 2010

If my business was any indication, January was a very good month. Properties sold fast and prices were good.
Aloha,
Keahi

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