Single Family Homes in the Ocean Pointe has shown some price decreases. The average sales price of single family homes have dropped in value nearly 11% from the same time period last year. While sales volume has been consistent the inventory levels have increased to about 6 months worth.
On the condo/ townhouse side the average sales price has not changed much over last year for the same period, but sales volume has dropped and inventory levels have increased. There will be continued pressure for sellers to be more flexible on prices and terms to compete against the rising levels of inventory.
New home construction in the area is also putting pressure on the pricing and sales activity.
With interest rates low this is a good time for buyers to negotiate a good deal. Sellers will need to adjust their tactics to be competitive with the higher levels of inventory.
Currently under the "Active for Sale Category" there are:
- 52 Single Family Homes
- 31 Condos/ Townhouses
Currently in Escrow:
- 13 Single Family Homes
- 7 Condos/ Townhouses
For the Month of March 2007 | ||||||||
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Single Family Homes | ||||||||
| Number of Sales |
| Average Sales Price | |||||
Area | 2007 | 2006 | % Change |
| 2007 | 2006 | % Change | |
Ocean Pointe | 9 | 10 | -10% |
| $581,340 | $652,500 | -10.91 | |
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Condominiums | ||||||||
| Number of Sales |
| Average Sales Price | |||||
Area | 2007 | 2006 | % Change |
| 2007 | 2006 | % Change | |
Ocean Pointe | 6 | 7 | -14.29% |
| $421,315 | $428,057 | -1.16% | |
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Year to Date Through March 31, 2007 | ||||||||
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Single Family Homes | ||||||||
| Number of Sales |
| Average Sales Price | |||||
Area | 2007 | 2006 | % Change |
| 2007 | 2006 | % Change | |
Ocean Pointe | 19 | 19 | 0% |
| $573,307 | $640,842 | -10.54% | |
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Condominiums | ||||||||
| Number of Sales |
| Average Sales Price | |||||
Area | 2007 | 2006 | % Change |
| 2007 | 2006 | % Change | |
Ocean Pointe | 12 | 16 | -25% |
| $422,851 | $428,793 | -1.39% | |
*These numbers were taken from the Honolulu Board of Realtors MLS system and are deemed to be accurate, but not guaranteed.
You can find out more about real estate in Hawaii at: http://www.hawaiirandy.com/
Or at: www.localism.com
Sally - At my morning meeting at the Board of Realtors, we had a visit from Elise with the Humane Society. She commented that she saw my blogs with their stats posted on pet friendly buildings and thanked me for spreading the word. During our lunch a conversation broke out with her on how we can be more proactive in gathering that information and how we can make it easier for people with pets to rent.
Active Rain continues to get noticed!
Thanks