Saturday, February 2, 2008

Real Estate Market News - Hawaii Kai - January, 2008

The real estate market in East Oahu was very active in January, as more homes went into escrow than in December and sales remained strong. The median sale price of single family homes was $930,000 compared to $900,000 in 2007, and of condos $545,000 compared to $515,000 in 2007. For the month, 228 single family homes sold, and 324 condos.

For Hawaii Kai specifically, the median sales price of single family houses was $834,000, and the number of sales down slightly from a year ago. Condo sales made the difference, as number of sales rose 110% over 2007, with a median price of $540,000 vs. $533,000 a year ago.

Because Hawaii Kai is one of the premier communities on Oahu, prices and demand have remained very strong, and we haven't been affected as much by inventory and market slowdown as other parts of the island.

Contact me for a complete real estate market analysis of the East Oahu or Hawaii Kai area. If you don't live here, you can't believe what you're missing!

Barbara Abe, REALTOR

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