February 2011 – Sales Activity Up, Prices Stable for Oahu Homes and Real Estate

February  2011 - Sales Activity Up, Prices Stable for Oahu Homes and Real EstateStatistics show activity is up for both Oahu single family homes and condominium sales, compared to sales for February 2010.  Prices remain pretty stable at a median price of $570,000 with single family homes showing just a slight (1%) dip from February 2010. 

Condo sales actually rose 7.0% with a median price of $320,000.  However, average days on the market are longer with about 58 days on market for both single family homes an condominiums.

During February, sales of 181 single‐family homes and 295 condominiums were reported through the Oahu MLS, increases of 2.3 percent and 20.9 percent, respectively, for single‐family homes and condominiums from February 2010. The median price paid for Hawaii properties in February was $570,000 for single‐family homes and $320,000 for condominiums, a decrease of 1.0 percent for single family homes and a 7.0 percent increase for condominiums, compared to the same month last year. According to the Days on Market indicator, sales closed at a slower pace last month compared to a year ago with single‐family homes listing for 58 days up from 38 and condominiums listing for 58 days up from 51.

  SINGLE FAMILY HOME RESALES
    Number of Sales This Month Compared to Median Sales Price This Month Compared to
Feb. 2011   181   $570,000  
Jan. 2011   199   $570,000  
Feb. 2010   177 UP 2.3% $575,000 DN 1.0%

 

  CONDOMINIUM RESALES  
  Number of Sales This Month Compared to Median Sales Price This Month Compared to
Feb. 2011 295   $320,000  
Jan. 2011 265   $291,000  
Feb. 2010 244 UP 20.9% $299,000 UP 7.0%

 

Although February is historically the lowest sales month of the year, sales for both singl family homes and condominiums were up last month compared to last year, which shows that there is still demand in the Oahu real estate market.  Sellers have even been seeing multiple offers that are well priced coupled with low mortgage rates for prospective homeowners. Here are some statistics from the Honolulu Board of Realtors.

Hawaii Real Estate Specialists

Help U Sell Hawaii assists sellers and buyers in coming together over the right home and right price. With up to date listings, current market conditions and local information we are your full service source for all Oahu real estate.

We want your Hawaii real estate experience to be a stress-free and smooth transaction whether you are buying or selling Oahu Homes or properties. As your Help U Sell Oahu Realtor our goal is your goals and we make every effort to buy or sell your property on your terms and your price.

We service the entire island of Oahu in the Hawaiian Islands for buyers and sellers including  but not limitted to Aiea, Ewa Beach, Hawaii Kai, Honolulu, Makakilo, Mililani Mauka, Waikele and Waipio Gentry.

If you would like more information about our Help U Sell Oahu service please don’t hesitate to call us at (808) 864 – 3545 or fill out our online contact form.  We look forward to speaking with you about your Hawaii real estate needs!

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