Hawaii Randy's Real Estate Opinions: Hawaii July 2009 Sales Figures

Hawaii July 2009 Sales Figures

Last week I heard multiple news reports about the drop in property values in Hawaii since last year.  The reports stated that we have the biggest drop in value in the nation of all major markets.  According to the reports you would think we were in a freefall compared to the same period last year.

What the numbers show is that the neighbor islands did take a pretty big hit, but Oahu (Honolulu County) which accounts for a majority of the sales activity held is values much better.

Here are the numbers posted by the Hawaii Association of REALTORS® per the MLS systems.

2009 JULY HAWAII REAL ESTATE MARKET REPORT:

Single Family Homes

Units Sold

County

2009

2008

% CHANGE

Hawaii

117

100

17

Kauai

27

31

-12.9

Maui

57

97

-41.2

Oahu

265

251

5.6

Totals

466

479

-2.7

Median Sales Price

County

2009

2008

% CHANGE

Hawaii

260,000

299,000

-13

Kauai

450,000

595,000

-21.7

Maui

532,000

610,000

-12.8

Oahu

595,000

620,000

-4

--------------------------------------------------------------------------------

Condominiums

Units Sold

County

2009

2008

% CHANGE

Hawaii

33

31

6.5

Kauai

15

15

0

Maui

69

63

9.5

Oahu

327

365

-10.4

Totals

444

474

-6.3

Median Sales Price

County

2009

2008

% CHANGE

Hawaii

265,000

344,000

-23.7

Kauai

525,000

435,000

20.7

Maui

350,000

575,000

-39.1

Oahu

312,000

329,000

-5.4

 

*Information provided by Hawaii Association of REALTORS® and Title Guaranty is deemed to be accurate, but not guaranteed.

 

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Randy L. Prothero, REALTOR®

Broker-in-Charge, ABR, AHWD, CRB, CRS, e-PRO, GRI, MRP, SFR

eXp Realty

Team Leader - "The Prothero Group"

Randy Prothero is well established as an expert in working with military / VA clients and first time home buyers.  His home seller's (listing) campaign is one of the most aggressive marketing programs in the area.  His luxury home listings sell faster and for more money.

Based out of Mililani, Hawaii. Randy services the island of Oahu (Honolulu County) Performs mediations and ombudsman services for the Board of Realtors.  To improve overall professionalism in his area Randy also offers classes for real estate agents. 

www.HawaiiRandy.comOahu (Honolulu County) Property Search  Hawaii Military Relocations

Comment balloon 4 commentsRandy Prothero • August 30 2009 02:07PM

Comments

Randy, this post is one more illustration of how all real estate is local. 

Posted by Patricia Kennedy, Home in the Capital (RLAH Real Estate) about 9 years ago

Patricia - You are so right.  Even within our county there are huge differences from one community to another and even from one neighbor to another.  You definitely can not assume anything without carefully analyzing the numbers.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) about 9 years ago

Randy - The Hawaii sales figures are all over the place.  Maui's are certainly way down.

Posted by Pam Dent, REALTOR® - Charlottesville Virginia Homes / Horse (Gayle Harvey Real Estate, Inc.) about 9 years ago

Pam - There is no consistency from one island to another.  There are completely different market forces on each island.  Even on Oahu, one community may be completely different than another.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) about 9 years ago

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