Honolulu County Real Estate Market Report- November 2009

As the saying goes...the only thing constant in this world is CHANGE.  The same goes for our Honolulu County Housing Market Statistics for November 2009  which showed yet again the continued up and down numbers in sales numbers and sales prices!

Single Family Resale Numbers:  Our sales numbers for single family homes showed a slight decrease in sold single family homes from 281 to 249. The Median Sales price also had a slight decline from $605,000 in October to $590,000 in November.  This is decrease of 0.75% from November 2008 to 2009 and also shows a decrease of 2.4% from October to November of 2009 in sales prices. 

Condo/Townhouse Resale Numbers:  Our Honolulu Real Estate Housing Market sales numbers for condos/townhouses increased slightly from 381 in October to 407 in November of 2009 and we can attribute the sales number increase for the past couple of months due to the lowering inventory on the island of Oahu. Honolulu County Median sales prices increased 102.5% from November of 2008 to November of 2009 and also increased in sales prices from $295,000 to $320,000!

I believe these ups and downs will continue as our market tries to find a happy median. With the FIRST TIME HOMEBUYER TAX CREDIT EXTENSION approved, interest rates still lower and inventory considerable down in all neighborhoods the shifting is evident with more homebuyers in the market.

These Honolulu County Market Statistics vary from neighborhood to neighborhood and I continue to experience multiple offers on homes and townhouses in all areas in Honolulu County including short sales. Stay tuned for more neighborhood market statistics.

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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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