June 2008 numbers are in.
Single Family Home Sales have continued to show decreased sales volume across all counties. June saw drops in Median Sales Prices in all counties except Kauai compared to the 2007 levels. During June I saw an increase of activity in my business and am hoping that pattern is repeating among other agents and areas. The July numbers will be important as to determine possible trends.
Condominium Median Sales Prices saw a big bump on Maui, a slight increase on Oahu and a leveling on Kauai. The Hawaii was the only county to see any significant dips from the 2007 levels. All counties continue to see decreases in sales volume.
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FOR THE MONTH OF June 2008 |
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SINGLE FAMILY HOMES |
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Number of Sales |
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Median Sales Price |
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County |
2008 |
2007 |
% Change |
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2008 |
2007 |
% Change |
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Hawaii |
101 |
161 |
-37.3% |
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$299,000 |
$364,000 |
-17.9% |
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Kauai |
28 |
46 |
-39.1% |
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$687,500 |
$655,000 |
+5.0% |
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Maui |
74 |
112 |
-33.9% |
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$616,000 |
$667,000 |
-7.6% |
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Oahu |
232 |
338 |
-31.4% |
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$625,000 |
$685,000 |
-8.8% |
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Total Sales |
435 |
657 |
-33.8% |
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CONDOMINIUMS |
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Number of Sales |
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Median Sales Price |
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County |
2008 |
2007 |
% Change |
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2008 |
2007 |
% Change |
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Hawaii |
31 |
46 |
-32.6% |
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$355,000 |
$401,500 |
-11.6% |
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Kauai |
21 |
24 |
-12.5% |
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$569,000 |
$572,500 |
-0.6% |
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Maui |
53 |
113 |
-53.1% |
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$580,000 |
$475,000 |
+22.1% |
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Oahu |
355 |
547 |
-35.1% |
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$327,500 |
$334,000 |
+1.9% |
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Total Sales |
460 |
730 |
-37.0% |
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*These numbers were taken from area MLS systems and Title Guaranty Escrow. The information listed here is deemed to be accurate, but not guaranteed.
You can find out more about real estate in Hawaii at: www.HawaiiRandy.com
Or at: www.localism.com
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Randy L. Prothero, REALTOR®, ABR, AHWD, CRS, e-PRO, GRI, SFR
Century 21 Liberty Homes
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.
Based out of Mililani, Hawaii. Randy services the island of Oahu (Honolulu County) and the Leeward Regional Chairman of the Honolulu Board of Realtors. To improve overall professionalism in his area Randy also offers classes for real estate agents.
www.HawaiiRandy.com * Oahu (Honolulu County) Property Search * Hawaii Military Relocations
Randy:
Interesting how things varybut not surprising. We all know how local RE can beand this tells that story well. Hope things continue to improve for you. This is an informative summary.
Jeff
Seems the sales aren't to bad. Looks like condos have held up better than houses.
Jeff - I just posted for Mililani, where my home and office is. They look pretty good.
John - I think many buyers have been priced out of single family homes.
Kimo - I see that pattern on the older segments of our population. I also see if even more on first time buyers. Condos are a great way to get in the market.
On Kauai the market is so small, that any given condo complex can greatly influence island-wide numbers. And when you review the stats, you don't know on the surface if the unit that sold was put into escrow last month, last year, or even two years ago in the case of a new development. To me, that's why you need to get the info from a local realtor, who has the experience and wisdom to tell the story behind the story of the numbers. The numbers by themselves may be misleading.
Aloha on Oahu to you Randy.
Ronnie - Extremely good points. On Kauai they should look you up. Congrats again on winning the Masters Centurion Award.