Compared to previous years, 2011 continued to be a stabilizing year for Oahu real estate. The single-family and condominium markets saw minor fluctuations in sales from 2010, up 2.4% for condominium and down 3.2% for single-family. Despite the overall market trend, 8 market areas saw significant increases in single family market sales, including Nuuanu-Makiki (up 35.9%), Kaimuki (up 17.5%), and Manoa, (up 14.5%). Several condominium market areas also increased including Miliani (up 14.7%), Waikiki (up 14.4%), and Ala Moana-Kakaako (up 9.3%).
Median prices also saw relatively small changes with condominium prices down 1.6% for condominiums and down 3.6% in the singlefamily market. Days on market, or number of days a property is listed continues to remain low, with a median of 42 days for the condominium market and just 36 days for single family. The combination of stable market factors and low interest rates could make this the perfect time to leverage the market in your favor and achieve your new years real estate goals.
Median prices also saw relatively small changes with condominium prices down 1.6% for condominiums and down 3.6% in the singlefamily market. Days on market, or number of days a property is listed continues to remain low, with a median of 42 days for the condominium market and just 36 days for single family. The combination of stable market factors and low interest rates could make this the perfect time to leverage the market in your favor and achieve your new years real estate goals.
Kengo Ueno (R)
Follow me on twitter @HawaiisRealtor
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