The Kaneohe communities (zip code of 96744 and some connecting neighborhoods) have seen changes in the real estate market.
Single Family homes sales have softened. Average sales prices of single family homes have seen some dropping; not so good news for sellers. Buyers will find more selection with nearly 8 months worth of inventory; they will also find sellers that may be a little more negotiable.
Condo and townhouse sales are another story. Inventory is relatively low and prices have continued to climb. Sales volume is still remaining strong. This may be a dynamic of buyers moving to condos and townhouses as they got priced out of the single family home market.
Currently (May 7, 2007) under the "Active for Sale Category" there are:
- 119 Single Family Homes
- 62 Condos/ Townhouses
Currently in Escrow:
- 51 Single Family Homes
- 25 Condos/ Townhouses
For the Month of May 2007 |
| | | | | | | |
Single Family Homes |
| Number of Sales | | Average Sales Price |
Area | 2007 | 2006 | % Change | | 2007 | 2006 | % Change |
Kaneohe Area | 19 | 28 | -32.14% | | $826,333 | $863,625 | -4.18% |
| | | | | | | |
Condominiums |
| Number of Sales | | Average Sales Price |
Area | 2007 | 2006 | % Change | | 2007 | 2006 | % Change |
Kaneohe Area | 26 | 20 | +30% | | $410,423 | $385,245 | +6.54% |
| | | | | | | |
Year to Date Through May 31, 2007 |
| | | | | | | |
Single Family Homes |
| Number of Sales | | Average Sales Price |
Area | 2007 | 2006 | % Change | | 2007 | 2006 | % Change |
Kaneohe Area | 90 | 89 | +1.12% | | $748,025 | $780,998 | -4.22% |
| | | | | | | |
Condominiums |
| Number of Sales | | Average Sales Price |
Area | 2007 | 2006 | % Change | | 2007 | 2006 | % Change |
Kaneohe Area | 105 | 117 | -10.26 | | $390,845 | $354,152 | +10.36% |
*These numbers were taken from the Honolulu Board of Realtors MLS system and are deemed to be accurate, but not guaranteed.
You can find out more about real estate in Hawaii at: http://www.hawaiirandy.com/
Or at: www.localism.com
;)
;)
