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Kailua Real Estate Sales Activity for November 2007

The Kailua communities (zip code of 96734 and some connecting neighborhoods) have seen changes in the real estate market.

The below figures include both fee simple and leasehold properties. These are only the totals and average sale prices.

Single Family homes sales: The month of November saw strong average sales prices. Year to date, both average sales price and sale volumes have shown modest increases over the 2006 figures. Inventory levels also came down a little in November.

Condo and townhouse sales: In November both sales volume and average sales price volume continues to be a bit off from 2006, while average sales prices are still holding strong in the Kailua area. Inventory levels are somewhat low, which may keep the prices strong.

Currently Active for Sale (as of 12/22/07):

143 Single Family Homes
27 Condos/ Townhouses

Currently in Escrow (as of 12/22/07):

15 Single Family Homes
9 Condos/ Townhouses

For the Month of November 2007

Single Family Homes
	Number of Sales		Average Sales Price
Area	2007	2006	% Change	2007	2006	% Change
Kailua Area	21	24	-12.50%	$1,091,595	$1,012,062	+7.86%

Condominiums
	Number of Sales		Average Sales Price
Area	2007	2006	% Change	2007	2006	% Change
Kailua Area	6	13	-53.85%	$409,583	$458,365	-10.64%

Year to Date Through November 30, 2007

Single Family Homes
	Number of Sales		Average Sales Price
Area	2007	2006	% Change	2007	2006	% Change
Kailua Area	292	287	+1.74%	$1,083,042	$1,046,940	+3.45%

Condominiums
	Number of Sales		Average Sales Price
Area	2007	2006	% Change	2007	2006	% Change
Kailua Area	104	124	-16.13%	$464,985	$446,590	+4.12%

*These numbers were taken from the Honolulu Board of Realtors MLS system and are deemed to be accurate, but not guaranteed.

You can find out more about real estate in Hawaii at: http://www.hawaiirandy.com/

Or at: http://www.localism.com/

Posted by Randy L. Prothero - Hawaii REALTOR® on 12/22/2007 06:23 PM

Comments (6)

real estate market report, real estate, kailua, enchanted lakes, aikahi, honolulu county, hawaii, century 21

Originally posted at: Hawaii Randy's Real Estate Opinions: Kailua Real Estate Sales Activity for November 2007

This post has been included in Hawaii Information Honolulu County, HI Information Kailua, HI Information

6 Comments on Kailua Real Estate Sales Activity for November 2007

DEC

2007

Yep. I believe the REAL story is in the decline in the number of sales. It's more dramatic in my area.

I would have posted the number from 2005, but it's too depressing.

Lenn - I am sure it has to be nearing bottom fairly soon in your area.

DEC

2007

Randy - we're also seeing that condominiums are more affected than single family homes in St Petersburg and surrounding areas. We're a landlocked peninsula so we don't have the huge new home developments that surrounding counties have, but we do have lots of luxury condominiums completing construction and coming into inventory.

DEC

2007

Sharon - The numbers very tremendously here from community to community. Condos are a viable option for many here because the prices on single family homes is so high that it prices many out of that market.

DEC

2007

Randy, I noticed that condos have softened, do you think this will benefit you with the cheap dollar and lead to foreigners buying?

Jim - I haven't seen as much in my business, but teh word is that buyers from Canada have already began to buy in places like Maui.

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