Just by way of comparison with the earlier report on the home market on Kauai, Sales on the Big Island of Hawaii show a very different trend. Sales of single-family homes there fell 20 percent and prices are off 6 percent. Condos show a similar trend with sales off 31 percent while median prices are off about 8 percent.
Clearly, each Island has its own market. We are still having great business here on Oahu, but even still the number of homes, both single family homes and condos are off pretty substantially but prices are holding reasonably firm. Our agents are staying very busy. We still believe we are in a typical Hawaiian market as we have seen things this way before.
There is another issue that is really interesting. We have all been expecting a lot of real estate agents to leave the profession, at least until things firm up. It's kind of strange that this simply isn't happening as we have more agents with active licenses at the end of 07 than we did in January. Hope springs eternal they say, and we are all watching carefully for any sign of an improvement in the market from international buyers. It may be happening in Kauai. We are all watching carefully.
REMAX Kai Lani, 25 Kaneohe Bay Drive, Aikahi Park Shopping Center, Kailua, HI 96734 Telephone: 808-237-5300.