Honolulu Real Estate Statistics For June 2010
July 8th, 2010 categories: The Market
CLICK HERE TO OVERALL OAHU STATS
CLICK HERE FOR STATS ON LOCAL HONOLULU COMMUNITIES
CLICK HERE FOR HONOLULU HOUSING OUTLOOK
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
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What The February Honolulu Real Estate Statistics Mean
March 2nd, 2010 categories: For Buyers, For Sellers, The Market, Video For Buyers, Video For Sellers
The Honolulu Board of Realtors publishes its monthly statistical report concerning the real estate resale market for the island of Oahu. In general, reading the tealeaves, there are positive numbers throughout the report. In today’s video blog, I focus on the most relevant information and one number, not in the report, that shows a great deal of momentum in the Honolulu real estate market.
CLICK HERE FOR A COMPLETE COPY OF THE REPORT
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.
More Video Blogs
Honolulu Real Estate Is A Good Investment
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Honolulu Real Estate Stats Point To Good 2010
January 4th, 2010 categories: For Buyers, For Sellers, The Market
I haven’t seen anything posted by the Honolulu Advertiser or Honolulu Star Bulletin regarding the recently released December (12/31/2009) Honolulu Board of Realtors statistical report.
Below is a summary of the salient statistics.
Total Number Of Sales (Houses & Condos)
2008-6,674 2009-6,052 622 fewer units sold (down by 9.3%)
Median Number Of Days On Market
12/08 Houses-65 days 12/09 Houses-34 days (-48%)
11/08 Condos-53 days 12/09 Condos-36 days (-31%)
Inventory Of Active Residential Listings
12/08 Houses-2,033 12/09 Houses-1,100 (-46%)
12/08 Condos-2,634 12/09 Condos-1,588 (-40%)
Months Of Remaining Inventory
12/08 Houses-12.0 months 12/09 Houses-4.2 months (-65%)
12/08 Condos-13.1 months 12/09 Condos-4.6 months (-65%)
Number Of Units Sold
12/08 Houses-194 12/09 Houses-265 (+37%)
12/08 Condos-243 12/09 Condos-349 (+44%)
CLICK HERE FOR A COPY OF THE DECEMBER HONOLULU BOARD OF REALTORS STATISTICAL REPORT.
What does this information lead me to predict?
1. Extremely low inventory means that the Honolulu real estate market should be brisk in January and February. I’ll go out on a limb and say that it will be the best seller’s market we have seen in the last 2 years.
2. Low interest rates, tax credits for first time buyers and move up buyers and continued improvement in the national economy will add fuel to a seller’s market fire.
3. Restrictive lending and appraisal guidelines will be a damper on price appreciation. This may mean buyers will be able to by at okay prices even though the market should strongly favor sellers.
With all of this in mind, if you are a buyer, it is a terrific time to buy! If you are a seller, low levels of inventory favor sellers and now may be a good time to sell!
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.
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Honolulu Home Inventory Down To 2005 Levels!
December 1st, 2009 categories: For Buyers, For Sellers
I just did a quick review of the latest Honolulu Board of Realtors statistical report (it was released at 7:45 tonight) and I was surprised to see a drop in available single-family home listings to 1,199. Let me put this in context, we started the year at 1,903 houses for sale! This is the lowest level of available single-family homes since August of 2005 (when 1,060 homes were for sale). Who knows what this means, but I think it is great news!
CLICK HERE FOR A COPY OF THE REPORT
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.
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Honolulu Real Estate Statistics
October 6th, 2009 categories: For Buyers, For Sellers, The Market
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.
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Analysis of Core Honolulu Real Estate Statistics
September 2nd, 2009 categories: For Buyers, For Sellers
In past posts I have made a distinction between the core of Honolulu’s real estate market and the rest of the island of Oahu. Furthermore, for many reasons (see past post), as a Honolulu Realtor I believe that this core area will out perform the other parts of the island in appreciation. Every month the Honolulu Board of Realtors publishes its statistical analysis for the island of Oahu and in general things look good.
Overall we have seen remaining inventory of single-family homes drop to 1,624, this number compares with July and August of 2005 (1,604 and 1,658 homes respectively). Condominium inventory is down to 2,140 from 2,494 in January 2009. Note that at the end of July 2008 there were 2,753 Oahu condos for sale. This month I have taken a much harder look at the core area that I define as Kamehameha Heights through all of Hawaii Kai.
Here are a few numbers that you may not find reported. Read the rest of this entry »
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More On Honolulu Real Estate Statistics
June 3rd, 2009 categories: For Buyers, For Sellers, The Market
In yesterday’s post, I noted that the Honolulu Board of Realtor monthly statistical report held 5 numbers that might show the Honolulu market in line for a short-term bump. I also predicted that the following, “Since the report was released yesterday afternoon, Honolulu’s local on-line newspapers (Honolulu Advertiser & Honolulu Star Bulletin) have yet to comment. If I have to guess, I bet that they will be negative about the market!” In two cases I was pleasantly surprised, however, the Honolulu Advertiser kept true to form by leading with a negative headline. Here are the headlines each organization used to describe the same set of statistics.
Pacific Business News (PBN) “Oahu home sales show signs of recovery”
Honolulu Star Bulletin “Reasons to be upbeat”
Honolulu Advertiser “May home prices on Oahu down 15.3%”
CLICK HERE TO SEARCH FOR YOUR NEW HOME
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.
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Honolulu Real Estate Statistics, An Interpretation
June 2nd, 2009 categories: For Buyers, For Sellers, The Market
This month’s Honolulu Board of Realtors statistical report has 18 pages of very interesting information. Since the report was released yesterday afternoon, Honolulu’s local on-line newspapers (Honolulu Advertiser & Honolulu Star Bulletin) have yet to comment. If I have to guess, I bet that they will be negative about the market! Surface numbers such as median prices (down) and year on year sales comparisons (down 43.2%), look negative. However, if you dig into the report, there are some encouraging numbers. Here are five (5) that caught my eye.
Read the rest of this entry »
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Key Honolulu Real Estate Indicators Going The Right Way!
May 6th, 2009 categories: The Market
The April 2009 Honolulu Board Of Realtors Monthly Statistical Report (CLICK HERE FOR A COPY) has been analyzed in a negative manner by the major media. They seem to focus on the on April 2008 to April 2009 drop in median sales price of single family homes from $639,000 to $585,000 (an 8.5% move down). However, when you look deeper, there are three numbers that tell me things are going to be okay. Here they are. Read the rest of this entry »
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Honolulu Real Estate Statistics
November 6th, 2008 categories: The Market
The Honolulu Board of Realtors released the October Monthly Statistical Report (CLICK HERE FOR A COMPLETE COPY) earlier this week. In general, I would like to see more positive numbers, but in no way should anyone be overly negative. There are three sets of numbers that can be encouraging depending on the market segment you are viewing.
1. Median prices. Median prices rose to $625,000 for houses and $325,000 for condominiums (from $590,000 and $296,000 respectively last month). This shows that values are not plummeting! I believe that values are declining in an incremental fashion, but we will not see quick declines in price (barring a catastrophic economic failure). This slow decline could result from moderate levels of inventory (see #3 below).
2. Median days on market. Houses that sold were on the market 52 days and condo’s lasted 53 days. Traditionally in Honolulu, 60 days on market or less means that the market favors sellers. Given how close the number is to 60 days on market, one could say that the market may be leaning toward favoring buyers. It is not, however, a large enough number to justify thinking one is going to get significant discounts on properly price property.
3. Moderate levels of available inventory. There are 2,107 active house listings and 2,663 active condominium listings. These listings are not evenly spread across Oahu’s market areas. So there are some neighborhoods (Ewa Beach and Waikiki as examples) where there is a lot for sale and therefore really goods buys can be had. However, core Honolulu has very low inventory in most segments and it is still getting good prices. Sections of the market that would be considered in the sweet spot of affordability are staying strong. And on the flip side, once you get above certain prices you will see more flexibility in the price.
Today’s picture is of my daughter’s cat. It was taken this morning. She likes to sit on the table while I check email and prepare for my day.
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