Monthly Hawaii Kai Real Estate Statistics as of Nov. 2008
Sales are down and inventory is up, but prices of
Hawaii Kai real estate are still relatively stable.
Single Family Sales: The median sales price of the 10 homes sold in November was $735,000 vs. 19 sales and a median price of $1,040,000 in 2007. Year-to-date, 148 homes have sold, with a median price of $835,000 vs. 213 homes sold in 2007, and a median price of $875,000. While sales are down 30.5%, prices decreased 4.6%.
Condo Sales: The median sales price of the 11 condos that sold in November was $545,000 vs. 15 sales and a median price of $599,000 in 2007. Year-to-date, 182 condos have sold, with a median price of $540,000 vs 234 condos sold in 2007, and a median price of $544,000. Sales are down 22.2% but prices only 0.7%.
Single Family Listings: 25 owners in November listed their properties, for a median list price of $925,000 vs. 24 last year at a median price of $1,024,000.
Condo Listings: 22 owners in November listed, at a median price of $652,500 vs 28 last year, at a median price of $619,300.
Single Family Inventory: 140 homes were available in November vs 117 last year
Condo Inventory: 127 condos were available in November vs 82 last year.
While I've read of many places on the mainland where inventory is more than 2 years, average inventory on Oahu for November was 8.5 months, for all types of housing. East Oahu had the 2nd lowest inventory rate on the island, 7.8 months for single family (lowest was Leeward at 7.2) and 7.2 for condos (Leeward was 6.9).
These statistics are courtesy of our Honolulu Board of Realtors. Contact me for a complete copy, available monthly.
Barbara Abe, REALTOR
barbara@barbarashawaii.com
www.barbarashawaii.com
www.movetohawaiikai.com
808-226-2537