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Hawaii Homes Market Report

Honolulu County Real Estate Home Sales- February 2010

As the saying goes...the only thing constant in this world is CHANGE.  The same goes for our Honolulu County Housing Market Statistics for February 2010 which showed yet again the continued up and down numbers in sales numbers and sales prices from month to month...and year to year!

 Single Family Resale Numbers:  Our sales numbers for single family homes showed a decrease in sold single family homes of 3.1% from 162 to 157. The Median Sales price also had a decline from one month to the next of $597,000 in January 2010 to $570,000 in February 2010.  These statistic do show and increase of  21.7% in sales numbers from February 2009 to 2010 and also shows an increase of 3.6%% from February 2009 to 2010 in sales prices. A better year?

* Median sales price mean that half of the prices were above and half were below the given price

Condo/Townhouse Resale Numbers:  Our Honolulu Real Estate Housing Market sales numbers for condos/townhouses increased slightly1.7% from 227 in January to 231 in February of 2010 and we can attribute the sales number increase for the past couple of months due to the lowering inventory on the island of Oahu. Honolulu County Median sales prices decrease slightly 0.33% from $299,000 to $298,000. Overall, for the past year the sales number rose 44.4% from 160 to 237 from February 2009 to February 2010 and sales prices rose slightly at .33% for the same time period.

I believe these  shifts in the market will continue as our market tries to find a happy median. With the FIRST TIME HOMEBUYER TAX CREDIT and interest rates still a bit low and  inventory considerable down in all neighborhoods the shifting is evident with more homebuyers in the market fighting over homes.   So, keep in mind that with this lower inventory on the island of Oahu it has become a seller's market with multiple offers on homes and everyone trying to get a piece of that Hawaii Dream Home pie.

Stay tuned for more neighborhood market statistics or contact me at sally@hawaiihomesmarket.com for more information!

PAST MARKET REPORTS

Celeste "Sally" Cheeseman is a Realtor-Associate with Century 21 Liberty Homes in Mililani, Hawaii. With a sharp understanding that a listening ear is the key to a client's needs  she serves the island of Oahu (Honolulu County) and all Hawaii Military Relocating to Hawaii, Hawaii Retirees, Hawaii Job Transfers and Hawaii Residents.