Local Market Update - Makiki and Moili‘ili Honolulu, July 2019

By
Real Estate Agent with HI Pro Realty LLC RB-21531 RS-76763
https://activerain.com/droplet/5kvp

Market Report - Makiki & Moiliili - HI Pro Realty LLC

 

Local Market Update - 

Makiki and Moili‘ili Honolulu, July 2019 

 

Single 

Family Homes 

July

Year to Date

2019 / 2018 Change 

2019 / 2018 Change        

New

Listings

19 / 20  -6%

121 / 101  20%

Closed

Sales

13 / 7  86%

73 / 56  30%

Median

Sales Price 

$1.188M / $1.375M  -14% 

$1.188M/ $1.2M  -1%

Percent of Original 

List Price Received

96.9% / 101.9%  -5%

94.9% / 92.7%  2%

Median Days on

Market Until Sale

34 / 29  17%

26 / 23  13%

Inventory of

Homes for Sale

67 / 52  29%

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HI PRO REALTY - PET FRIENDLY HONOLULU REALTOR, PROPERTY MANAGEMENT

 

Condos

July

Year to Date

2019 / 2018 Change

2019 / 2018 Change

New

Listings

85 / 74  15%

530 / 477  11%

Closed

Sales

49 / 50  -2%

297 / 371-20%

Median

Sales Price

$410,000 / $350,000  17%

$362,000 / $375,500 -4%

Percent of Original

List Price Received

96.0% / 92.7%  4%

97.1% / 97.0%  0%

Median Days on

Market Until Sale

40 / 13  208% 

35 / 19  84%

Inventory of

Homes for Sale

251 / 174  44%

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Honolulu Mortgage Rates Sept. 2016 

 

Contact Us Today  for expert Property Management

and Real Estate Buyers representation! 

 

 

 

 

Posted by

 HI Pro Realty - PET FRIENDLY HONOLULU REALTOR, PROPERTY MANAGEMENT

 

HI Pro Realty LLC - REALTORS®, PROPERTY MANAGERS® is a boutique brokerage firm offering responsive, dedicated, and professional Real Estate Sales and Management Services in Honolulu, Hawaii. 

 

 

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Tags:
makiki condos for sale
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Rainmaker
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Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Hi Kimo - it seems as though the market is quite stable in Makiki and Moili'ili. The one thing that popped out to me is the increasing days on market for condos. Have a lot of new condos been built? We're seeing that in parts of San Francisco.

Aug 24, 2019 08:59 AM #1
Rainmaker
739,494
Kimo Stowell
HI Pro Realty LLC RB-21531 - Honolulu, HI
REALTOR Associate® RS-76763 - Honolulu Hawai'i

Aloha Lottie Kendall, thanks for the question! Days on Market has increased across most markets in Honolulu. What we are seeing is a more "normalized" time frame for purchase, 30 to 40 days as opposed to the 2 or 3 weeks which has increased buyer anxiety for a few years now. 

 

It seems connected to an increase in inventory across the island not just from new construction. No major housing projects in Makiki or Moiliili but next door in Kakaako and Ala Moana there is a lot of new construction entering the market. Mahalo for the visit!

Aug 24, 2019 12:10 PM #2
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Rainmaker
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Kimo Stowell

REALTOR Associate® RS-76763 - Honolulu Hawai'i
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