Hawaii Kai Real Estate Market Statistics through August, 2008
Thanks to our Honolulu Board of Realtors,
we agents on Oahu are so lucky to have complete
and current real estate market statistics for the island
ready by the first of every month. Here's what our reports showed
for Hawaii Kai real estate in August.
Single Family Homes
11 sales during August vs. 26 a year ago
Median sales price $779,000 vs. $854,500 a year ago
114 sales during 2008 vs. 162 a year ago
Median sales price $852,500 vs. $872,000 a year ago
Year-to-date, number of sales was down 29.6% and median price down 2.2%
This compares to decreases of 26.8% and 2.8% island-wide.
Condos
17 sales during August vs. 20 a year ago
Median sales price $575,000 vs. $525,000 a year ago
137 sales during 2008 vs. 179 a year ago
Median sales price $545,000 vs. $540,000 a year ago
Year-t-date, number of sales was down 23.5% and median price up 0.9%
This compares to a decrease of 27.0% for sales, and increase of 1.5% for prices island-wide
Today's Honolulu Advertiser echoed the trend: median home price on Oahu dropping to $635,000 or 2.3%, and sales volume down by "nearly a third" over August, 2007. This marks the 7th time in 8 months the median price for a single-family home has dropped on Oahu over the previous year. Harvey Shapiro, research economist for the Honolulu Board of Realtors, said the number of new listings also was down in August. Shapiro explained that sales and new listings are both shrinking and these conditions limit inventory expansion. As a result, prices will hold steady.
Visit the page on my web site for Hawaii Kai Market News for a thorough analysis of August statistics for Hawaii Kai. And contact me with any questions - I specialize in Hawaii Kai real estate sales.
Barbara Abe, REALTOR
barbara@barbarashawaii.com
www.movetohawaiikai.com
808-226-2537