YTD Real Estate Market Report Oahu-Hawaii

 

The end of the year numbers are in and I give my thanks to Board of REALTORS for
the outstanding job they do of compiling the data and giving us members such a
great tool to view the market and the trends.

Here is a portion of the report that highlights three key components of the
Market. Median sale price, Unit sales based on a rolling 12 month average and
Months of inventory based on current sales, DOM and current listing inventory.

To be honest, the broad market is comparatively good analytically compared to how
it seems to "feel" sometimes. The most dramatic change in the last 12 months in
my opinion is the unit drop, but that is offset by the nearly static sale price over
the same time period. 

The inventory report shows a lengthening of time required to deplete the
inventory. Overall, most markets and price ranges reflect an increase of 1
month +/- which is significant increase as a percentage.

Most of all what the chart tells me is that the homes that are priced competitively
in their ranges will sell and that the listings that are overpriced will languish. A
great market to be a qualified buyer with nothing to sell. For owners of real estate
who have held property since 2000, their gain may not be as much as they thought,
but they should be significant and for those who purchased their homes as recently
 as 2004, their appreciation could be expected to still average 20%+ as compared
to their purchase. The sobering side of the chart is that nearly all of that
appreciation occurred during 2005, with 2006 and 2007 being nearly flat from a
broad market view.

If anyone would like to have the complete report emailed to them, visit my
website at http://www.homesoahuhawaii.com/ and register for the free report and I'll 
email you a copy post haste.

Personally I am very excited about 2008 and think that between the potential
of Federal intervention in the lending industry, election year politics and the
phenomenal growth of my primary market in the Kapolei / Ko Olina area that
we will see a healthy and robust albeit steadier than the past market

Pricing on the sellers point and premium financial condition on the buyers
point will be the largest factors in their respective categories. 

Hope you find the data interesting.

Michael




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