Hawaii Kai Market Statistics for January, 2009
Information herein is courtesy of the Honolulu Board of Realtors. Hawaii Kai is a very distinct region on Oahu, so we get excellent statistics specific to Hawaii Kai, without having to interpret which neighborhoods are relevant. HBR also gives East Oahu, which is very helpful. Visit my web page on Hawaii Kai Market News for more details.
Sales: Single Family Homes
In January, 8 sales closed with a median average sales price of $755,000. This compares to 2008, when 12 homes closed, with a median price of $834,000, a decrease of 33.3% in number and 9.5% in price.
Sales: Condos
In January, 10 sales closed with a median average sales price of $450,000. This compares to 2008, when 21 homes closed, with a median price of $540,000, a decrease of 52.4% in number and 16.7% in price.
New Listings: Single Family Homes
In January, 28 homes listed, for an average price of $982,000, compared to 36 last year, with an average price of $1,064,500.
New Listings: Condos
In January, 30 homes listed, for an average price of $504,500, compared to 43 last year, with an average price of $629,000.
Inventory remaining island-wide in January was 9.8 months for single family homes, and 10.3 months for condos - these decreased from December, 2008 with numbers of 12.0 and 13.1 months.
Inventory is still high in all areas, but Hawaii Kai has been affected less by the short sale/foreclosure problems than many other parts of Oahu. Prices held strong through 2008 but, based on January figures, may be heading down more in 2009. If you are a buyer, there are great opportunities - low interest rates, government tax credits, plenty of homes to choose from - Hawaii Kai is waiting for you!
Barbara Abe, REALTOR
barbara@barbarashawaii.com
www.movetohawaiikai.com
808-226-2537