Local Market Update - Ala Moana and Kaka‘ako Honolulu - May 2021   Single   Family Homes May Year to Date 2021 / 2020 Change           2021 / 2020 Change New Listings 0 / 2  -100% 12 / 6  100% Closed Sales 2 / 0  0% 6 / 4  50% Median Sales Price $841K / $0.0  0% $976.5K / $927K 5% Percent of Original  List Price Received 101.4% / 0.0%  0% 100.9% / 93.9%  7% Median Days on Market Until Sale 48 / 0  0% 10 / 15  -33% Inventory of Homes for Sale 4 / 2  100% ---        Condos   May Year to Date 2021 / 2020 Change 2021 / 2020 Change New Listings 64  /  59  8% 358  /  340  5% Closed Sales 64 / 18  256% 247/ 157  57% Median Sales Price $802.5K / $724.5K 11% $605K / $699.5K -14% Percent of Original  List Price Received 97.7% / 97.9%  0% 96.7% / 96.6%  0% Median Days on  Market Until Sale 34 / ... 06/18/2021

 Local Market Update - Makiki and Moili‘ili Honolulu, May 2021  Single  Family Homes May Year to Date 2021 / 2020 Change 2021/ 2020 Change New Listings 13 / 10  30% 87 / 70  24% Closed Sales 19 / 5  280% 70 / 39  79% Median Sales Price  $1.35M / $1.275 6% $1.4M / $1.19M  18% Percent of Original  List Price Received 100.6% / 98.2%  2% 98.6% / 94.7%  4% Median Days on Market Until Sale 9 / 16  -44% 19 / 32  -41% Inventory of Homes for Sale 48/ 61  -21% ---    Condos May Year to Date 2021 / 2020 Change 2021 / 2020 Change New Listings 71 / 41  73% 351 / 293  20% Closed Sales 52 / 23  126% 264 / 179  47% Median Sales Price $392,500 / $369,000  6% $385,000 / $385,000  0% Percent of Original List Price Received 97.5% / 96.7%  1% 97.9% / 96.6%  1% Median Days on Market Until Sale 17 / 32  -47% ... 06/21/2021

 Local Market Update: Diamond Head & Kapahulu May 2021   Single Family  Homes May Year to Date 2021 / 2020 Change 2021 / 2020 Change New Listings 28 / 21  33% 134/ 111  21% Closed  Sales 23 / 17  35% 89 /  44  102% Median Sales Price $1.2M / $965K  24% $1.15M / $950K 21% Percent of Original  List Price Received 100.0% / 97.2%  24% 99.6% / 96.1% 4% Median Days on Market Until Sale 12 / 22  -45% 14 / 30  -53% Inventory of Homes for Sale 69 / 103  -33% --- Condos May Year to Date 2021 / 2020 Change 2021 / 2020 Change New  Listings 10 / 8  25% 65 / 45  44% Closed  Sales 6 / 2  200% 54 / 20  170% Median  Sales Price $607,750 / $269,500 126% $582,500 / $574,000 1% Percent of Original  List Price Received   96.0% / 98.1%  -2% 98.2% / 99.0%  -1% Median Days on  Market Until Sale 72 / 43  67% 28... 06/23/2021

Aloha, Lance Owens (RS) here with KonaHomeTeam (luva llc). I go over this topic when training agents, or educating my clients, (both buyers and sellers) - some get it, some don't, and let's face it, if there was one perfect way to negotiate, we would all be doing it!What is an escalation clause you ask?Escalation clauses: This is a clause in the offer that states if a competing bona fide offer is made on the property, the buyer’s offer will automatically increase by a certain dollar amount over the competing offer up to a maximumReason #1: You just tipped your hat as to how high you are willing to go in a negotiation - that's not a very good start. I liken it to playing a game of poker, but you are the only one at the table that is placing a bet, with all your cards - face up! (if so, y... 06/21/2021