September 2nd, 2009 categories: Honolulu Real Estate 101, Rants & Riffs
In past posts I have made a distinction between the core of Honolulu’s real estate market and the rest of the island of Oahu. Furthermore, for many reasons (see past post), as a Honolulu Realtor I believe that this core area will out perform the other parts of the island in appreciation. Every month the Honolulu Board of Realtors publishes its statistical analysis for the island of Oahu and in general things look good.
Overall we have seen remaining inventory of single-family homes drop to 1,624, this number compares with July and August of 2005 (1,604 and 1,658 homes respectively). Condominium inventory is down to 2,140 from 2,494 in January 2009. Note that at the end of July 2008 there were 2,753 Oahu condos for sale. This month I have taken a much harder look at the core area that I define as Kamehameha Heights through all of Hawaii Kai.
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