COVID19 UPDATE
Oahu

Oahu Real Estate Sales Stats Showing Strength – January 2009

David Buck, RA back, this time he writes about January’s market on Oahu real estate

The Honolulu Board of Realtors has released the latest stats for January of 2008. The median sales price of a single family home on Oahu is down 10% from the previous year- from $600,000 to $539,500 which puts us back to Feb./March of 2005 levels. The North Shore led the way- down 51.8% from the previous year. East Oahu held strong w/ a median sales price up 2.2% from 2008!

Remember- ALL MARKETS ARE LOCAL What may be happening in one neighborhood might not be happening in another…Our median sales price for a condo is also down 5% from $324,000 to $305,000. To show how slow the North Shore is, there was not one condo sale there in January. We are also now at 71 days on market for Single Family homes & 59 days for condos, which isn’t too bad compared to the mainland U.S. Our inventory is actually down slightly from Dec. of 2008 w/ 70 less homes on the market and 140 less condos & these numbers are real close to where we were this time last year.

What has really slowed down dramatically is the number of sales on Oahu. There were 122 homes and 159 condos that sold in January, down 46% and 51% from previous year and down 37% and 35% from December of 2008. These were the lowest numbers of sales since the mid-1990’s…In hindsight, that was the best time to buy real estate here.

Comments (3) 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Your email address will not be published.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.

HawaiiLife.com Head-Web-Head

February 26, 2009

Wow! I can’t believe the North Shore dropped so much. Maybe I should think about investing there instead of the North Shore of Kauai.

4th Quarter Honolulu Real Estate Market Report | Hawaii Real Estate Blog

February 26, 2009

[…] Unfortunately, the market report is for the 4th quarter of 2008, so its not as current as it could be. For the latest info, check out David Buck’s post on January 2009 real estate stats for Oahu. […]

Ernon

March 21, 2009

Do you guys have a recommendation section, i’d like to suggest some stuff

More Articles from Hawaii Life