The Honolulu Real Estate Market Is Good, Or Is It Bad?

August 6th, 2009 categories: Condos For Sale, For Buyers, For Sellers, The Market

If someone asks me about the Honolulu real estate market, I answer “In General it is gaining strength and may be favoring sellers. In specific, it could favor either the buyer or the seller.” I am not trying to avoid the question and I believe my answer provides a very truthful and accurate answer. If you are thinking about making a move (either buying or selling) don’t rely on generalities, get very, very specific on all of the market conditions that could affect your decision making process.

Kahala Towers Condominium is an example of a building that will strongly favor the next owner willing to sell a unit and here is why. There are not units listed for sale! Based on the name of the building, it is located in Kahala and on top of that it is in the heart of core Honolulu. The location alone means that a person who works in town can save a significant amount of time by simply avoiding a large amount of the traffic coming into Honolulu’s core. CLICK HERE FOR A CMA ON KAHALA TOWERS . The Ilikai Apartments is an example at the diametrically opposite end of the market spectrum. Per a recent comparative market analysis on the condominium, there are 26 active listings for sale and just 1 pending sale. This micro-market definitely favors the person willing to buy now. An average market time for available listings of 138 days, means a buyer has time to sniff around, make low offers and drive the best possible bargain.

These condominiums are approximately 5 miles apart, both located in a market that is generally firming, but in one the seller is in the drivers seat and in the other buyers are in control. Here is the point. Never buy into the general prognosis of a particular large market. Do specific homework to confirm the conditions relevant to your unique situation and desires.

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If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.

This entry was posted on Thursday, August 6th, 2009 at 6:00 am and is filed under Condos For Sale, For Buyers, For Sellers, The Market. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.