Real Estate Statistics - Hawaii Kai and Oahu

By
Real Estate Agent with East Oahu Realty

Oahu Single Family

Sales stayed flat for the month and over the last 2 years. Number of sales for July this year was 268, last year 266, 2008 - 268.

Year-to-date, the sales were higher than both of the last 2 years. Number of sales for the year was 1,747, for last year 1,377, and in 2008 - 1,670.

Median Sales Price also stayed almost flat for the last 3 years for July. Median price in July this year was $605,000, in 2009 $595,000, and in 2008 $620,000.

Year-to-date, median sales price is up from 2009, but not yet back to the levels of 2008. For the year, median price is $585,000, for 2009 $575,000, and for 2008 $625,000.

Days on Market show significant improvement, both for the month and year-to-date. For July, average DOM was 39, in 2009 - 45, and 2008 - 53.

Year-to-date, average DOM improved to 32 this year, down from 52 in 2009, and 50 in 2008.

Inventory of homes is also showing a steady and healthy decrease. At the end of July, there were 1,577 homes for sale on the island, in 2009 - 1,929, and in 2008 - 2,406.

These numbers equate to 6.3 months' supply this year, 9.6 months last year, and 9.5 in 2008.

Oahu Condos

Sales dropped from June and 2008. Number of sales for July this year was 320, last year 343, and 2008 - 471.

Year-t0-date, sales showed a healthy jump over last year. Number of sales for the year was 2,338, for last year, 1,718, and 2008 - 2,631. So condo sales are still below 2008 levels.

Median Sales Price for condos is below 2008, but recovering. Median price in July this year was $299,000, in 2009 $307,250, and in 2008 $332,750.

Year-to-date, the median price is slightly below the last 2 years. For the year, median sales price is $304,000, in 2009 $305,000, and in 2008 $330,000.

Days on Market dropped for condos also, both month-month and year-to-date. For July, average DOM was 36, in 2009 - 56, and in 2008 - 29.

Year-to-date, average DOM was 32 this year, down from 55 in 2009, and 39 in 2008.

Inventory of condos is also showing a steady decrease. At the end of July, there were 2,046 units for sale on the island, in 2009 - 2,479, and in 2008 - 3,017.

These numbers equate to 6.0 months' supply this year, 9.3 months last year, and 7.7 in 2008.

Hawaii Kai Real Estate Statistics

Single Family

July 2010 vs July 2009

New Listings - 40 vs 28
Closed Sales - 20 vs 19
Median Sales Price - $810,000 vs $799,000
DOM - 37 vs 31
Inventory of homes - 94 vs 119

Year to Date 2010 vs 2009

New Listings - 217 vs 199
Closed Sales - 103 vs 91
Median Sales Price - $812,500 vs $757,500
DOM - 25 vs 49

Condos

July 2010 vs July 2009

New Listings - 18 vs 23
Closed Sales - 25 vs 18
Median Sales Price - $559,000 vs $526,000
DOM - 28 to 81
Inventory of units - 44 vs 68

Year to Date 2010 vs 2009

New Listings 168 vs 166
Closed Sales - 125 vs 93
Median Sales Price - $525,000 vs $475,000
DOM - 18 vs 78

If you would like the full reports, just let me know and I can email them in .pdf format. The numbers through July look very encouraging, both for Oahu and Hawaii Kai homes. Don't wait until prices start rising again significantly to look for your Hawaii Kai property.

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