Honolulu County Real Estate Market Report

August 2009  

**Dedicated in memory of Harry Shapiro, research economist for the Honolulu Board of REALTORS®, who passed away on Saturday, September 5, 2009**

Honolulu County Housing Market Statistics for August 2009  definitely shows activity. Our market is stabilizing and we do hope that we just may have bottomed out.

In the  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. For August we show a slight decrease in sales from 265 to 247 and a slight decrease in Median Sales Prices from $595,000 to $566,000.  This is a decrease in sales numbers of 3.1% and a decrease in sales prices from 5.6% increase in July to 4.9% in August.

 Condo/Townhouse Resale Numbers:  Our Honolulu Real Estate Housing Market sales numbers for condos/townhouses increased in the past month although median sales prices increased from $310,000 to $312,000 in June and back down again to $290,000. With 263 sales in May, 293 sold units in June, 327 sold units in July we have a nice increase in sales for August UPWARDS to 351 sold units!  The sales prices increased to 0.6% in July from June and down from July to August of  7.1%.

*Median Sales Prices means half the prices were above and half were below the stated price.

These Honolulu County Market Statistics vary from neighborhood to neighborhood and I have experienced multiple offers on homes and townhouses in the Ewa Gentry and Ocean Pointe areas in Honolulu County that are not short sales. Stay tuned for more neighborhood market statistics or contact me at sally@hawaiihomesmarket.com for more information!

I believe this is the start of the turnaround for our market. Business has picked up, 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.

 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

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