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Hawaii Homes Market Report | Honolulu County Real Estate Market Report- June 2010

By
Real Estate Agent with Liberty Homes RS-#62825

As the saying goes...the only thing constant in this world is CHANGE.  The same goes for our Honolulu County Housing Market Statistics and in June of 2010 our housing market showed a decrease in sales prices for single family homes and increases in condo/townhouse sales price compared to May of 2010.

Single Family Resale Numbers:  Our sales numbers for single family homes showed a stable number of sold single family homes of 285...only 2 down from the previous month. The Median Sales price went down from $606,000 to $575,000  These statistic do show an increase of 0.9% in sales prices from the year before.  A better year for sure!

Condo/Townhouse Resale Numbers:  Our Honolulu Real Estate Housing Market sales numbers for condos/townhouses increased from 361 solds in May 2010 to 399 solds in June of 2010. Honolulu County Median sales numbers increased 38% from the previous year and slightly decreased in sales prices over the last year from $310,000 to $300,000.

With the FIRST TIME HOMEBUYER TAX CREDIT ended we expected a big decrease in sales.....but it seems our market is still moving at a steady pace.  And with interest rates still low and  inventory considerable down in all neighborhoods the shifting is evident with more homebuyers in the market fighting over homes. 

Multiple offers on one property...regardless of short sales, foreclosures and regular sales is the norm at this time so be prepared and don't be that killer negotiator!  With lower inventory on the island of Oahu everyone is trying to get a piece of that HAWAII DREAM HOME pie!

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 or contact me at sally@hawaiihomesmarket.com for more information!

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Hawaii Home Buyer | SOME Military Qualify for Extended Tax Credit

The Home Buyer Tax Credit ended on April 30, 2010 but there are some "Qualified service members" (which means a member of the uniformed services of the U.S military, a member of the Foreign Service of the U.S., or an employee of the intelligence community) that may still qualify for the extension of this Home Buyer Tax Credit. Qualified service members who are ordered on a period of official extended duty are extended for one year. For these home buyers, the tax credit applies to sales with a binding sales contract in place on or before April 30, 2011 and closed by June 30, 2011.

READ THE DETAILS HERE:: http://www.federalhousingtaxcredit.com/service_mem.php

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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 all Hawaii Home Buyers and Sellers on the island of Oahu (Honolulu County) including all Hawaii Military Relocating to Hawaii, Hawaii Retirees, Hawaii Job Transfers and Hawaii Residents.

Website: www.hawaiihomesmarket.com

 

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Celeste "Sally" Cheeseman  is a Realtor-Associate® and Certified Residential Specialist (CRS) 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 Relocations, Hawaii Retirees, Hawaii Job Transfers and Hawaii Residents, Home Buyers and Sellers.

 

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Hawaii Real Estate and Relocation Blog.

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Comments (5)

Celeste "SALLY" Cheeseman
Liberty Homes - Mililani, HI
(RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE

First photo is at Ala Moana Center....the Koi pond in the middle.

Second is Downtown Honolulu taken from the Aloha Market Place.

Jul 14, 2010 09:23 AM
William Johnson
Retired - La Jolla, CA
Retired

Woo Hoo! A wonderful post and  wonderful news in the changing fortunes of the economy around the US. Very well done graphed statistics and the photos are cool too!

Jul 14, 2010 09:26 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Sally the First Time Homebuyer Tax Credit is not over for Military personal serving oversees.  I re-blogged a blog on that, you might want to take a look at it.

Jul 14, 2010 03:43 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Sally - good information AND good insights on your local market. There's tremendous value in understanding what's going on so you don't lock yourself out of the market by being naive.

Jeff

Jul 14, 2010 04:27 PM
Celeste "SALLY" Cheeseman
Liberty Homes - Mililani, HI
(RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE

Thanks Guys....

George...I have the link in the post....believe me ...I know :) :)

Jul 15, 2010 06:10 PM