Oahu Single Family Real Estate Sales, September, 2010
According to data released by the Honolulu Board of Realtors, September marked five straight months of median price gains for single-family homes on Oahu when compared with prices in the same months last year. The number of sales also continued an upward trend. The median price for previously owned single-family homes sold in September was $622,450, up 2.9% from $605,000 in September 2009. For the first nine months of the year, the median price was $599,000, a 4.2% increase from 2009.
Island-wide, there were 274 single-family homes purchased in September, up 8.3% from 253 a year earlier. For the first nine months of this year, the number of sales increased 20% to 2,251.
Inventory has decreased, which fuels buyer demand. 1,515 single-family homes were on the market at the end of September, compared with 1,711 a year earlier and 2,389 two years ago.
Oahu Condo Real Estate Sales, September, 2010
The number of sales decreased 15.8% to 298 last month from 354 a year earlier. Year-to-date, sales are up 21% to 2,937. The median sale price for condos in September was $335,000, up 8.2% from $309,500 a year earlier. Year-to-date, the median price is unchanged at $305,000.
The University of Hawaii Research Organization earlier this month forecast that Oahu's median home price will rise 4.4% this year, and continue rising between 4% and 5% in each of the next two years. It predicts the condo price will gain 1% this year, then rise around 5% in each of the next two years.
Hawaii Kai Real Estate Statistics
Single Family (2009 numbers in brackets)
September - 20 closed sales (24), $930,000 median price ($832,500), 39 median days on market (57), 83 homes on market month-end (89)
Year to Date - 144 closed sales (130), $830,000 median price ($780,000), 26 median days on market (56)
Condos (2009 numbers in brackets)
September - 16 closed sales (19), $550,000 median price ($525,000), 40 median days on market (60), 58 homes on market month-end (56)
Year to Date - 155 closed sales (132), $525,000 media price ($490,000), 19 median days on market (69)
As reported in an interview with the StarAdvertiser, a recent Hawaii Kai buyer said, "To me the time is now to buy if you can. Interest rates are at a phenomenal low, and prices are starting to creep up from the two-year trough. It's an opportune time."
I completely agree. Call or email me to look at some Hawaii Kai or Honolulu homes for sale.
Comments(0)