Market Activity November Statistics for Kaneohe Homes November 2011

By
Real Estate Broker/Owner with Best Homes Hawaii RB-13537

 

Market Activity November Statistics for Kaneohe Homes November 2011
This is for OAHU tax zones 1-4-4 to 1-4-7

·      For a description of the zones see blog on Oahu Tax Maps
Make Plans for a Honolulu Home 2012 Oahu

** The below does not include, for sale by owner sales and any new home sales
(data obtained from Honolulu Board of Realtors MLS)

Man Glasses with Chart

Summary of Facts and Potential Trend Analysis

* For November there were 117 houses for sale in Kaneohe
* Average market value for single family homes is $660,000 which is down from the same month last year at $744,000

* DOM stands for days on market

* Kaneohe Homes Closed Sales increased 31.3% which is consistent with Year to Date at + 28.5%
*Closed condo sales were the same for November which is fairly consistent with Year to Date figures at a positive 0.7% higher
This compares to ISLAND WIDE, for both houses and condos, closed sales are DOWN Year to Date by 1.8%

Kaneohe Statistics November

* In talking with Real Estate agents at seminars, meetings and luncheons, the general talk is that the overall number of buyers looking are increasing.  Many of the off island buyers are coming from the West Coast and the Orient.  We have been told to expect the Chinese and Latino market to increase over the next two years.

NOV CLOSED SALES Bar Chart for Single Family Homes in Kaneohe

Nov Kaneohe Houses closedNOV CLOSED SALES Bar Chart for Condos/Townhouses in Kaneohe

Nov Kaneohe Condos closed

With DOM being around 1-2 months, the months of remaining inventory hovers around 5-6 months. Because median market prices reduced, buyers reacted with an increase in closed sales.  I foresee this changing in the coming months, since various news sources and the Honolulu Board of Realtors statistics show that, island wide, we have the lowest inventory since 2005.  Either there will be a lot of buyers coming out of the woodwork or a lot of sellers who have been holding off, may place their properties on the market.  NOW is a great time to purchase.  Rates are low and
opportunities abound.
Call us today 808-955-1577.Best Homes Hawaii

 

Posted by

Serving all OAHU for over 30 years

Best Homes Hawaii Bruce Hicks

Contact Me Today!

LinkedInYouTubeGoogle+Jan Farinato Website

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Location:
Hawaii Honolulu County Kaneohe
Groups:
Posts to Localism
Local Real Estate Market Reports
Market Reports
2012 BIG Jumpstart Blog Challenge
Tags:
honolulu homes for sale
kailua homes for sale
kaneohe homes for sale
houses near kaneohe marine base

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
391,152
Theresa Harden
EXIT Real Estate Associates - Honolulu, HI
PB SFR e-Pro Realtor

Go Kaneohe! Buyers are increasing as is number of homes going into escrow. Thanks for sharing the information.  

Mar 16, 2012 05:04 AM #1
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
491,966

Bruce Hicks

Your Lifetime Friend/Helper!
Want to know the "DEALS" foreclosures, bank owned? Learn More!
*
*
*
*
Spam prevention

Additional Information