Hawaii Randy's Real Estate Opinions: Honolulu – Highest Residential Real Estate Price Growth in Nation

Honolulu – Highest Residential Real Estate Price Growth in Nation

                                                                                           Honolulu

Prices in the Honolulu market grew 14.79 percent from September 2006 to September 2007 according to the September 2007 LoanPerformance Home Price Index reported by Pacific Business News.  14.79 percent growth for Honolulu was the highest in the nation.

The article also included the market with the biggest drop, which was Riverside-San Bernardino-Ontario market in California seeing the greatest drop at 13.59 percent.

According to the report home prices fell in 17 states tracked by the index, while five states saw price appreciation of between 5 percent and 10 percent.  Hawaii was the only market to experience double-digit growth.

It was reported that the price index covers 956 Core Based Statistical Areas and 659 counties in 50 states and the District of Columbia.

 

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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 9 commentsRandy Prothero • November 19 2007 08:21PM

Comments

Well, we knew that...and it keeps growing... only the number of sales have gone down...weird huh?
Posted by Celeste "SALLY" Cheeseman, (RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE (Liberty Homes) almost 11 years ago
Sally - Despite these strong numbers I still hear some agents complaining about how bad they think it is.  Maybe for them.
Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) almost 11 years ago
Randy,  This is great information.   I am glad to see that you are getting the word out.  It is only a matter of time until the numbers firm up, but that will require that the banks get a little more comfortable with our circumstances in Hawaii.   I just spoke with a guy who needs to get refinancing as he has a balloon payment due on a home he bought last year on the Big Island and things don't look good for him.   This kind of a situation is what is holding down the sales numbers.  
Posted by Kai Lani, RE/MAX (RE/MAX Kai Lani) almost 11 years ago

Aloha Randy,

Good to see you still have a strong HI market. Hope to see you at sell-a-bration in Jan.

Posted by Lynda Eisenmann, Broker-Owner,CRS,CDPE,GRI,SRES, Brea,CA, Orange Co (Preferred Home Brokers) almost 11 years ago

Jerry - I keep reading gloom and doom in the newspaper and wonder what they are looking at.  Our market is still pretty strong, despite there negative efforts.

Lynda - I look forward to meeting you then.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) almost 11 years ago

Randy,

I wish Wisconsin had that kind of growth.

Looks like snow in the forcast tonight perhaps.

How are the multi family sales in your area?

Sincerely,

Tom Braatz 

Posted by Tom Braatz Waukesha County Real Estate 262-377-1459, Waukesha County Realtor Real Estate agent. SOLD! (Coldwell Banker) almost 11 years ago

Tom - Multi-family sales traditionally are slower to move.  Even in the hot market they had longer days on market.  I have one a block from the beach on the north shore of Oahu.  Send me a buyer who wants to get away from the snow.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) almost 11 years ago
Randy, Sometimes I think the media guys want the world to fall apart.   It's interesting to see the same philosophy from another perspective.   Circumstances in Iraq seem to be getting better so rather than beating the drum and letting people know what's going on, the media stopped talking about it.   My Mom always told me if I couldn't say something nice, I should say nothing at all.   The Media seems to take the other perspective.  If they can't say something mean and destructive, then they say nothing at all.  Otherwise, they keep writing gloom and doom even about a not so bad market here in Hawaii.   From my perspective, the market here is great.  
Posted by Kai Lani, RE/MAX (RE/MAX Kai Lani) almost 11 years ago
Jerry - I agree, it seems like the media cheers for disaster.
Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) almost 11 years ago

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