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

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Real Estate Agent with Liberty Homes RS-#62825

Honolulu County Real Estate Market Report- July 2010

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 July of 2010 our housing market showed a increase in sales prices for single family homes and just a smidgen in condo/townhouse sales price compared to June of 2010.

Single Family Resale Numbers:  Our sales numbers for single family homes showed a stable number of sold single family homes of 268. The Median Sales price went up from $580,000 in the previous month to $605,000!  These statistic do show an increase of 1.7% 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 decreased from 404 solds in June 2010 to 320 solds in July of 2010. Honolulu County Median sales prices went down to $299,000 from $300,000 the month before. Down 6.7% in sales numbers and 2.7% in sales prices from the previous year is still not a bad tally.

Keep in mind that these Honolulu County Market Statistics  vary from neighborhood to neighborhood and we continue to experience multiple offers on homes, condos and townhouses due to the extremely lower inventory on the island of Oahu.

It is a seller's market with everyone trying to get a piece of that Hawaii Dream Home pie so be prepared and don't be that killer negotiator.  If you do, you just may lose the home that you really love!

 

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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. 

Hawaii Home Buyer | SOME Military Qualify for Extended Tax Credit

 Yup, 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

Stay tuned for more neighborhood market statistics or contact me at sally@hawaiihomesmarket.com for more information!

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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 (1)

Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Sally - looks like things may be stabilizing, at least for the singel family home market?

Jeff

Aug 12, 2010 06:51 PM