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Honolulu Real Estate | Hawaii Homes Market Report July 2009

Honolulu County Real Estate Housing Market Numbers

JULY 2009

Honolulu County Hawaii Homes Market Statistics for JULY 2009 definitely shows an increase in activity and sales prices. Our market is stabilizing and we do believe we just may have bottomed out.

In the Honolulu Real Estate | Market Report for June 2009 our sales numbers for single family homes showed an increase from 225 in May to 254 in June. Now for July we have had 265 sales and the Median Sales price rose from $569,000 in June to $595,000 in July! An increase upwards of 4.6% in sales prices and upwards of 5.6% in sales numbers!

Hono Market 7-09

Condo/Townhouse Resale Numbers: Our Honolulu Real Estate Housing Market sales numbers for condos/townhouses decreased in the past month although median sales prices increased from $310,000 to $312,000. With 263 sales in May to 293 sold units in June we now see a slight decrease in sales to 327 sold units. The sales prices increased upwards to 0.6%!

Hono Market 7-09 Condos

Could this be a turn around for our market now? We're hoping so. Business has picked up for all, interest rates are down and inventory slowly going down in all neighborhoods. We credit the continuous shrinking inventory for our stable price levels and we're hoping the housing industry has seen it's bottom in Honolulu County.

Honolulu County Market Statistics vary from neighborhood to neighborhood and I'll be giving you updates throughout the month for July 2009. If your situation and circumstances allow....it just may be your time to buy and also utilize that $8,000 first time home buyer credit this year.

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Celeste "Sally" Cheeseman is a Realtor-Associate with Century 21 Liberty Homes in Mililani, Hawaii. With a sharp understanding that a listening ear is the key to a client's needs she serves the island of Oahu (Honolulu County) and all Hawaii Military Relocating to Hawaii, Hawaii Retirees, Hawaii Job Transfers and Hawaii Residents. Website: www.hawaiihomesmarket.com

Posted by Celeste "SALLY" Cheeseman HAWAII Relocations & Real Estate on 08/05/2009 08:48 PM

Comments (9)

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Originally posted at: Hawaii Real Estate & Relocations : Honolulu Real Estate | Hawaii Homes Market Report July 2009

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9 Comments on Honolulu Real Estate | Hawaii Homes Market Report July 2009

AUG

What an attractive report, Sally, just so much fun to view, and such positive news in your local market. YEAH! Very nice.

Sally, it does look like it is picking up out there. And that, my friend, is good news!

Sally - looks like some continued good news. We are seeing similar trends. But with the end of the California moratorium on foreclosures coming soon, we may see come significants shifts again. Time will tell, but for now it has gotten pretty compettive at the low end of the market.

Jeff

Sally- WoW, that was one fast recovery! Hawaii must hold the record for the last to decline and the first to rebound! Of course, paradise encourages a high demand and the islands have a low supply.

Woo Hoo, This is a great market report and has evolved to be quite excellent. The market stats look like a real uptick and it bodes very well for the rest of the year. Come 2010, I suspect there will be increased pressure to save many of the foreclosures and that will help prices by allowing them to seek their natural level with much less negative economic news influence.