It looks like the downward spiral of the last 2 years for real estate prices is in full reversal, which is good news for sellers. Buyers should start looking and get preapproved for a loan.
Hawaii Kai Real Estate Statistics
Single Family (2009 numbers in brackets)
September - 20 closed sales (24), $930,000 median price ($832,500), 39 median days on market (57), 83 homes on market month-end (89)
Year to Date - 144 closed sales (130), $830,000 median price ($780,000), 26 median days on market (56)
Condos (2009 numbers in brackets)
September - 16 closed sales (19), $550,000 median price ($525,000), 40 median days on market (60), 58 homes on market month-end (56)
Year to Date - 155 closed sales (132), $525,000 media price ($490,000), 19 median days on market (69)
Visit the Hawaii Kai Market News page on my web site for details on specific communities and the high and low sales for the month.
As reported in an interview with the StarAdvertiser, a recent Hawaii Kai buyer said, "To me the time is now to buy if you can. Interest rates are at a phenomenal low, and prices are starting to creep up from the two-year trough. It's an opportune time."
I agree completely. Call or email me to talk strategy and start previewing homes.
Barbara Abe, Realtor