Hawaii Randy's Real Estate Opinions: Ocean Pointe Q1 2007 Real Estate Sales Activity of Existing Homes

Ocean Pointe Q1 2007 Real Estate Sales Activity of Existing Homes

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

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

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%

 

 

 

 

 

 

 

 

Year to Date Through March 31, 2007

 

 

 

 

 

 

 

 

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%

 

 

 

 

 

 

 

 

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

 

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

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 • April 23 2007 12:31PM

Comments

You're being real thorough with your market and pet friendly posts!
Posted by Celeste "SALLY" Cheeseman, (RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE (Liberty Homes) over 11 years ago

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!

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) over 11 years ago
Hey....good job!
Posted by Celeste "SALLY" Cheeseman, (RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE (Liberty Homes) over 11 years ago

Thanks

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

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