This report covers areas including: Halawa, Foster Gardens, Aiea, Aiea Heights, Waimalu, New Town, Royal Summit, Pearl City, and Pacific Palisades.
The below figures include both fee simple and leasehold properties. These are only the totals and average sale prices.
Single Family homes sales have softened. Average sales price of single family homes have seen slight increase year to date while sales volume is down from last year. Inventory levels are reasonably low.
Condo and townhouse sales are another story. The trend is similar to the single family homes in the area. Prices are seeing growth while sales volume is down and inventory low.
Current Active for Sale (as of 12/22/07):
- 55 Single Family Homes
- 65 Condos/ Townhouses
Currently in Escrow (as of 12/22/07):
- 27 Single Family Homes
- 21 Condos/ Townhouses
For the Month of November 2007 |
| | | | | | | |
Single Family Homes |
| Number of Sales | | Average Sales Price |
Area | 2007 | 2006 | % Change | | 2007 | 2006 | % Change |
Pearl City Area | 14 | 30 | -53.33% | | $664,214 | $611,665 | +8.59% |
| | | | | | | |
Condominiums |
| Number of Sales | | Average Sales Price |
Area | 2007 | 2006 | % Change | | 2007 | 2006 | % Change |
Pearl City Area | 37 | 41 | -9.26% | | $301,454 | $277,998 | +32.22% |
| | | | | | | |
Year to Date Through November 30, 2007 |
| | | | | | | |
Single Family Homes |
| Number of Sales | | Average Sales Price |
Area | 2007 | 2006 | % Change | | 2007 | 2006 | % Change |
Pearl City Area | 190 | 237 | -19.83% | | $655,905 | $635,633 | +3.03% |
| | | | | | | |
Condominiums |
| Number of Sales | | Average Sales Price |
Area | 2007 | 2006 | % Change | | 2007 | 2006 | % Change |
Pearl City Area | 400 | 535 | -25.23% | | $306,609 | $259,590 | +18.11% |
*These numbers were taken from the Honolulu Board of Realtors MLS system and are deemed to be accurate, but not guaranteed.
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It make sense that the single family homes is slowing down a little due to the general mortgage crisis. the same thing is happening in the Myrtle Beach SC area. With interest going down, we should see a rebound, so the time to buy is now.
Jay Skinner