Expert Market Update for Honolulu, Hawaii Kai, Kailua and West Oahu, Hawaii Provided by Leilani Cunningham and Associates

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Welcome > Local Info > Oahu Market News ...

December 2009 Oahu Market Update



Aloha, The holidays are upon us. Typically, it’s cooler outside this time of year and the real estate market cools off too. But, not this year! Activity in the Oahu real estate market has been hot. Sales of single family homes were up 46.5% this November compared to November of 2008. And condo sales were up 102.5%! You might want to take time out from shopping, wrapping, baking and partying to talk with me about the real estate market. This could be a great time to plan to sell your current home and move to a home that suits you even better. Imagine spending the holidays next year in your new home! So, give me a jingle. In the meantime, here are highlights from the latest statistics released by the Honolulu Board of Realtors.



For Oahu overall, there was a 9% decrease in single family home sales year-to-date as of November 30. Condominium sales were down 11.3% year-to-date. Market activity grew throughout the year and is ending strong with large increases in month-over-month activity. The median sales price of single family homes in November year-to-date dropped 8.5%: $580,000 versus $623,500 in 2008. For condominiums, prices fell to $302,750.





The median number of days on the market in November was 42 for single family homes and 32 for condominiums. Homes in November sold quicker than at any other time of the year. And, this is the quickest single family homes have sold in two years. Make that three years for condominiums.





Total inventory was 1,199 for single family homes and 1,749 for condominiums. Homes available for sale are down over 40% compared to this time last year. New listings really stand out. So, check with me to learn more about putting your home on the market.



At Coldwell Banker Pacific Properties, our mission is to provide you with a real estate experience that exceeds your expectations. Whatever the market, TEAM LEILANI delivers. For more information, visit www.TeamLeilani.com or for FREE listings info go to: www.HonoluluHomesConnection.com For Sellers: Want to know your home's worth in the current market? Use this form for your quick Market Snapshot"!

October 2009 Oahu Market Update




For Oahu overall, there was a 9.4% decrease in the median sales price of single family homes in August year-to-date: $570,000 versus $629,000 in 2008. And, the number of sales dropped 15.6% versus the same period in 2008. Kaneohe and Makakilo actually saw an increase in sales year-to-date. And, many Oahu neighborhoods had higher sales in the month of August 2009 compared to August 2008. Get much more information by contacting me or get a free Market Evaluation!





The median number of days on the market in August was 48 for single family homes and 51 days for condominiums. Many homes, assuming they’re priced right, are selling quickly—and sometimes with multiple offers.





Total inventory was only 1,624 for single family homes and 2,140 for condominiums. Listing your home immediately means less competition for the many buyers actively looking for homes right now.



Information provided by Coldwell Banker Pacific. Please contact me at 808-382-3000

June 2009 Oahu Market Update

Graduate to your next home!

You know about the three “R’s” in terms of education—Reading, Writing, and Arithmetic. Mastering these three disciplines prepares you to graduate to college or your new career.

There are also three “R’s” in real estate. When all three are present, then it could be time for you to graduate to your first or next home.

Rates. Interest rates play a critical role in how much home you can afford. Interest rates are incredibly low now, and there’s not much room for them to go any lower. And it’s certain, that these rates will go up. We just don’t know when.

Reduced Home Prices. For the month of May, 2009, the median sales price for a single family home was $550,000. Compare that to the recent peak of $685,000 in June of 2007—that’s almost 20% lower! The story for condominiums is similar. There are incredible properties on the market at bargain prices.

There’s a Reason to Move. Maybe your family is growing or the kids are leaving home. Changes in your life are perhaps the most important reason to own a new home. And homes have historically been a very attractive long term investment that you get to enjoy every day.

If you’re sitting on the fence, I urge you to investigate the market so you don’t miss out on great homes prices and low interest rates. These two factors just don’t come together very often!

Please feel free to contact me. Just a brief chat could help you determine whether you are ready to graduate now. If you’re not, I can help you develop a game plan to make your first or next home possible sometime in the future!

For Oahu overall, we saw a 9.5% decrease in the median sales price of single family homes sold in May, year-to-date: $570,000 versus $630,000 in 2008. The number of sales dropped 27.8% versus the same period in 2008. Examine the chart below to see how individual markets performed.

The median number of days on the market in May was 49 for single family homes and 52 for condominiums. Many homes that are priced well are receiving multiple offers and selling extremely quickly!

Total inventory was 1.739 for single family homes in May, lower than it’s been in more than two years. May’s condominium inventory of 2,438 was lower than in May of 2008 and lower than it’s been this year.

For more information please contact us at: 808-382-3000.

May 2009 Oahu Market Update




For Oahu overall, we saw an 8% decrease in the median sales price of single family homes sold in April, year-to-date: $575,000 versus $625,000 in 2008. The number of sales dropped 32.4% versus the same period in 2008. Examine the chart below to see how individual neighborhoods vary from overall Oahu statistics.





The median number of days on the market in April was 51 for single family homes and 66 for condominiums. Many homes that are priced well are receiving multiple offers and selling much more quickly.





Total inventory was 1,822 for single family homes in April, lower than it’s been since the summer of 2007. April’s condominium inventory of 2,514 is lower than it was a year ago when inventory was 2,629 and lower than in March when condominium inventory was 2,582.

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Cosmetic Improvements >Selling Your Kitchen

Most buyers rate an attractive kitchen very high on their priority list when they are looking for a new home. The layout of the kitchen, the amount of counter space and storage, and the age and overall condition of the appliances are all important to them. The kitchen area is basically viewed as the center of nourishment and an important place of family interaction.

Take a discriminating look at your kitchen and consider what you can do to make it a real asset. Repair any plumbing leaks or broken appliances. Scrub the room thoroughly, paying special attention to the range and oven. Clean the refrigerator and place a box of baking soda inside to absorb odors. Simple improvements can sometimes work wonders. Hang some colorful pot holders over the stove or install a new stainless steel or copper exhaust hood. Brighten the windows with new curtains and clear all clutter off the countertops.

You don't need a brand new, high-tech kitchen to impress buyers, but do whatever you can to make your kitchen look as efficient and well-maintained as possible.

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Q	What famous Art Deco skyscraper is decorated with eagle hood ornaments, hubcaps and abstract images of cars?
A	New York's Chrysler Building, designed by architect William Van Alen in 1930, was one of the first buildings composed of stainless steel over a large surface area.
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Leilani Cunningham and Associates, REALTOR®, real estate agent and broker for Honolulu, Hawaii Kai, Kailua and West Oahu Hawaii home listings, property and land for sale - NUMBER1EXPERT(tm)

Team Leilani Cunningham
Coldwell Banker Pacific Properties
4211 Waialae Ave. Kahala Mall Rooftop, Suite UW1
Honolulu, HI 96816
Tel: 808-382-3000
Fax: 808-748-8030
Email: Leilani@TeamLeilani.com
Leilani Cunningham was born and raised on Oahu. Living in the islands and remembering all the wonderful places, experiences, and people that have been part of her life growing up in Hawaii means she can offer local expertise for clients searching for just the right home, work experience to help market her clients’ properties effectively, and valuable business relationships to support smooth closing for all parties in every transaction. Leilani is excited to now have her daughter Kahi working as her associate.

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