What's Selling in Oahu? Homes $500-699k; What's not Selling? Homes above $1 Million

By
Real Estate Agent with Harcourts Island Properties RB-20368

We recently got our market update from the Honolulu Board of Realtors from the 3rd Quarter of 2008.  After looking at the stats, what jumped out at me are two things:

1. Single Family Homes from $500,000 to $699,000 are selling! 34.5% of all homes sold fell in that category.  This was the largest category/price bracket followed by homes in the $700,000 to $999,000 range at 24.7% of sales.  Meanwhile, when you look at the inventory in that same price range it encompassed only 29.8% fell in the $500,000 to $699,000 range.

2. Single Family Homes over $1 Million counted for roughly 14.3% of sales in the 3rd quarter.  Meanwhile, 28.3% of the homes on the market are over $1 Million!

What does this mean? Homes in the $500,000 to $699,000 are selling! This is no surprise in that our median sales price has been hovering in the $600,000 range for years... If you want your home sold, there's more likely it will sell in the price point.  However, no matter what the price point, homes priced well will sell! Good news is if you're in the $1 million + bracket, there's A LOT to choose from :)

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Hawaii Honolulu County
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Realtors®
RE/MAX Active Rain Bloggers
Honolulu, Hawaii Real Estate
Tags:
honolulu board of realtors
oahu housing prices
1 million homes

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Rainmaker
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Richard Dolbeare, R(B)
eXp Realty - Wailuku, HI
R(B), ABR, CRS...Hawaii Multi-Island Specialist

That's a good input David.  My market area on Kauai's south shore is much more mixed than that.  I'm not sure how the entire island compares to your data but I want to find out.

Aloha 

Nov 26, 2008 05:05 PM #1
Rainmaker
532,794
Robert May
Robert W May - Lethbridge Real Estate - Lethbridge, AB
Real estate consulting

wow, only 500k out of my price range, guess i will have to stay here the snow.

Nov 26, 2008 05:14 PM #2
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Rainmaker
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David Buck

Realtor-Broker
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