Saturday, February 6, 2010

Hawaii Kai Real Estate Market Report for January, 2010

The real estate market in Hawaii Kai is showing signs of life and renewal - inventory has risen, and sales numbers have improved.

Hawaii Kai Condos
15 sales closed, the lowest $360,000 for a 1/1 in the Mauna Luan, the highest, $738,000 for a 3/2.5 for a waterfront unit in Peninsula II.

This compares to January, 2009, when 10 homes sold, with a low of $300,000 for a 1/1 in Naniwa Gardens, and a high of $655,000 in Moana Kai, sold prior to listing.

For the last 6 months, 107 condos sold, with a low price of $225,000 for a Fee Available home in Koko Isle, and a high of $875,000 in Peninsula I.

East Oahu had the highest gain island-wide in number of condo sales over last year, 71.4%, and the median price rose to $445,000 from $434,500 last year.

Single Family Homes in Hawaii Kai
10 sales closed, the lowest $704,000 in Mariners Valley, and the highest, $1,225,000 in Triangle.This compares to January, 2009, when 8 homes sold, with a low of $637,000 in Kamiloiki to a high of $1,000,000 in Triangle.

For the last 6 months, 106 homes sold, with a low price of $515,000 in Kalama Valley and a high of $2,500,000 in Triangle.

It is hard to read much into statistical events with only 15 or 10 units, but I know personally that Realtors are busier and the phone is ringing again. There are currently 80 active single family listings and 41 active condo listings.

East Oahu sales rose 30.4% over January, 2009, and the median price declined to $619,500 from $655,000.

On Oahu overall, 162 single family homes sold, a gain of 32.8% over 2009. Median prices rose to $597,500 from $539,500, and average sales prices decreased to $700,082 from $731,000.

227 condos sold, a gain of 42.8% over last year. Median sales prices fell to $299,000 from $305,000 last year, and average sales prices also decreased slightly, to $340,433 from $354,542.

The Hawaii Ka real estate market is more active since the first of the year, as is the island in general. Search homes for sale in any Oahu area on my web site, and contact me for a detailed analysis of real estate sales in any Hawaii Kai community.

Barbara Abe, Realtor

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