Overall SFH Median Price Sold was flat line over May coming in at $630,000. The number of homes sold was only slightly lower than May coming in at 368 homes. The time it took to sell a home into Escrow took 50 days which is only 2 days less than May, but...who's complaining? At least the D.O.M. is going DOWN!
The number of New Listings For Sale was pretty much flat line over May and the Average New Listing Price was slightly down from May. This too is very good news. The only consistent Dark Cloud is still the inventory. Current inventory For Sale is at 1836 which is a +6% increase over May!
Oahu Condo/Town Homes
Similar to SFH's, the Condo/Town Home Median Price Sold was relatively flat line over May coming in at $305,000. Sales jumped up over May +6% to 641 units Sold. D.O.M. is at 39 Days for June and it too was relatively flat line vs. May. 'The Dark Cloud' too is over Condo/Town Homes coming in with a +7% increase in Inventory For Sale over May!
Average Sold Price dropped slightly from May coming in at $300,000. The number Sold was flat line from May at 112 units Sold. D.O.M. rose over May a whopping 24%! The Average Price For Sale dropped -9%. Condos going into Escrow for June were at 95. In May the number was 24. This is an increase going into Escrow of 75%!!! The Average Sales Price going into Escrow was down -9% from May at $376,000. Excellent news for Waikiki.
There were 31 total Solds which was just two more than May. The Average Price Sold dropped to $641,000 from $649,000 in May. D.O.M. increased +27%. Too Bad Mililani SFH's has finally fallen too to the 'Dark Cloud' with a whopping increase in Inventory For Sale of +43% Average Price For Sale was flat line as compared to May coming in at $730,000. For June the total listings going into Escrow was Up +80%. Someone thinks Mililani is a Great Buy! Average Price going into Escrow is UP Too!
Average Sold Price has risen for the past three months and is now $559,000. The number Sold is only slightly up at 60 homes sold. Total Inventory For Sale end of June was 310 Homes For Sale. This is a +36% Increase in Inventory For Sale! D.O.M. was 68 only two more Days than May's D.O.M. Average For Sale Price dropped -14% to $555,000. While there was a +78% increase in the number of homes going into Escrow, the Average Sold Price going into Escrow dropped -2%. Although Ewa Home Sales are going gangbusters the Dramatic Rise in Inventory For Sale with the drop in Sale Prices going into Escrow indicate to me... A Fire Sale!
From May to June there was a -17% decrease in the Average Price Sold to $579,000. The number of Homes Sold was the same as May 23. Great News in that the D.O.M. dropped -18% to 55 D.O.M. Average Price For Sale was flat line at around $800,000. Average Sold Price going into Escrow was flat line as well at approximately $630,000. BUT THERE WAS A +69% INCREASE OF SALES GOING INTO ESCROW! Although Average Sold Price is a little down, Buyers are clearly indicating their desire for Makakilo Homes! With For Sale Inventory Going DOWN, lower prices will not last here!
Makakilo Condo/Town Homes
Boy, is this a HOT AREA! Sold Prices increased over May by +12% to $404,000. Sales dropped slightly. D.O.M. DECREASED BY -42% to 29 Days! There was a +23% in Inventory For Sale and a +78 INCREASE GOING INTO ESCROW!!! Average Price For Sale dipped by approximately $20,000 but with these numbers Buyers are gobbling up Makakilo Condos and Town Homes!!! HOT INVESTMENT!!!
Ewa Condo/Town Homes
Average Sold Prices dropped to $336,000 a -9% drop from May. The number Sold increased to 61 a +28% increase in units Sold. D.O.M. increased slightly to 61 over last month. Total Inventory For Sale shot up +32% over May. Homes going into Escrow showed an Average Escrow of $392,000 which is a +9% increase in price. Most amazing of all was the +83% increase of homes going into Escrow! Overall, the Condo/Town Home Market in Ewa is very strong! A Good Investment!
Honolulu Condos - Kakaako to Makiki Heights
Sold prices surged ahead +16% and were $475,000. at the end of June. The number of Sales have been flat line for 3 Months in a row around 78/month Sold. D.O.M. increased only slightly. The 'Dark Cloud' again appeared as Inventory For Sale surged +35% with a total of 378 Condos For Sale at the end of June. Unusually accompanied with these numbers was a -40% Drop of units Sold into Escrow. In addition the Average Price going into Escrow dropped from $656,000. in May to $617,000 in June. This is a -6% decrease. Sales are strong here and it looks like the Condos that Sold in May were higher priced and the ones going into Escrow now are lower priced. What is not good is the Inventory escalation accompanied by the decrease of activity going into Escrow. This is a harbinger of Sellers having to lower prices to their units Sold in the very near future.
There was a -13% drop in Sold Prices though the Month of June and the Average Sold Price is now $284,000. Total units Sold also dropped by -29% for the Month of June. Inventory increased by a huge +39% and is now at 75 units For Sale. The BIG number was the amount of units going into Escrow. This was a HUGE +83% OVER LAST MONTH. Average For Sale price was only slightly down. I personally think Mililani is a good buy, but I also think we will see any higher priced units dropping their prices over the next month or two.
Pearl City SFH
Apparently Buyers really like the Pearl City area for their choices of Homes. The increase going into Escrow went up by +76%. Sold Prices dropped by -11%. The number of Solds have been increasing steadily for the past 3 months. Inventory For Sale rose by +47% and the D.O.M. has been flat line for 3 months at around 60 Days. Average Price in Escrow has been steady now for 2 months at about $644,000. There are definitely some Bargains to be had in the Pearl City Area SFH's!
Pearl City Condo/Town Homes
Average Sold Price was off about $20,000.since May. There was a -23% Decrease in the number Sold. That darn 'Black Cloud' of Inventory Increased +47%. Average Listing Price dropped -9% and units Sold into Escrow climbed a whopping +78%. Those going into Escrow the Average Price Sold into Escrow dropped -8% to $321,000. Pearl City Condos and Town Homes are HOT!. Prices are dropping and there is plenty of Inventory!
All data deemed reliable but not guaranteed. These views and opinions are of the Author and not Prudential Locations, L.L.C. If your property is currently listed with another Broker please disregard. It is not our intention to solicit other listings. We cooperate fully.
Residential Sales dropped by -37% for June to a total of 186 Homes Sold. Average Sold Price for the Island was $267,839.
Condos in South Hilo were off in sales by -46% for a total of 7 Sold. Median Sold Price for Condos was $150,000. Median Price for SFH's was $730,000.
Hamakua was off by -57% for a total of 6 Sold. Average Price Sold was $1,127,000.
North Kohala was very Active with total sales of 27 Homes, only off by 1 Sale from last Month, May. The Median Price Sold Price for was $557,000.
South Kohala was very active with 43 Homes Sold but it too was off from May by 34 units or -44%. Average Sold Price for June was $680,000. Total sales for Condos was 30 units and Median Price Sold was $555,000. Vacant land showed 12 Lots Sold for a Median Sold Price of $477,000.
N. Kona Condos showed sales at 30 units, but this figure is off from May Sales by -55%. Condo Average Sold Price for June was $303,000.
S. Kona showed 9 Homes Sold for June, off -18% from May with a Median Price Sold at $2,195,000. Vacant Land in S. Kona had 36 lots Sold, but was off by -74% from May's figures, but the Median Price Sold was UP coming in at $45,000.
Puna showed total sales at 25 Homes Sold with the Median Price Sold at $360,000.
Denise is the 'Resident Expert' on the Big Island. You can call or email her directly with any questions regarding your real estate investment. Denise has been a 'Top Producer' for five consecutive years and is the recipient of the coveted “Chairman's Circle Award” 2003, 2004 & 2005 which places her in the TOP 3% of 60,000 Prudential Agents Nationwide. Denise has been recognized by Prudential National as being NUMBER ONE in the State of Hawaii in 2004 for residential units Sold, 4th quarter and again placing NUMBER 3 in 2005 State-wide for the most units Sold 4th quarter. She runs her business with her daughter Mealoha, also a prominent Realtor.
Denise S. Nakanishi, R., ABR, CRS Prudential Orchid Isle Properties 969-7863 office, 936-5100 cell, firstname.lastname@example.org
Island Wide: SFH Sales dropped by -41% to a total of 41 total sales. In May sales came in at 70 units. Condos and Town Homes came in at 62 Sold a decrease of -16% from May's figure of 74 Sold. The entire Island Wide SFH Median Sold Price decreased from May to end of June by -14% or -$98,000. Median SFH Sold Price is now at $599,000. Condo/Town Home Median Price Sold was only off by -6% and is now $424,000.
Want to Invest in Kauai? Do it in Condo/Town Homes!
Koloa: Total SFH Solds were 9 which is a decrease of -25% from May Solds of 12 units. Condo/Town Homes Solds came in at 3 sold down -73% from May Solds of 11. Koloa's SFH Median Sold Price now is $675,000 down -7% or -$53,000. Condo/Town Homes Median Sold Price is $450,000 which down from last month by -36% or $275,000.
Lihue: Total SFH Solds were up by one for a total of 10 homes Sold in June. Condo/Town Homes came in at 49 an increase of +277% over last month's May figures of 13 Sold!!!!!!!!
Good News!!! Condo/Town Home Solds in Lihue were up in Median Price Sold at +18% or +$60,000. Current Median Sold Price is now $395,000.
DEFINITELY UPPER END IS SELLING!
My Goodness Do You Think Lihue Condo/Town Home Market Is HOT??!!!
Kawaihua: Total SFH Solds came in at 10 homes sold which down from last month by: -57%. Last month in May there were 22 Condo/Town Homes Sold. This month in June only 2 Sales! This is a decrease of -91%! Median Sold Price for SFH's was only off by -15%. Median Sold Price now is $595,000. Kawaihua Condos/Town Homes are BOOMING TOO! This month they increased in Median Price Sold by + $231,000. or +76%!!! Median Sold Price is now $538,000. This is over last month's Median Sold Price of $306,000.
DEFINITELY UPPER END IS SELLING!
Hanalei: Total SFH Solds were 8 for the month of June. This is down -56% from May! Condo/Town Home Solds came in at 8 which down -71% from May! Of Course, Hanalei SFH's Median Price Sold came in at $1,350,000. This is Up +44% from May. Absolutely the 'Cream of the Crop'...Hanalei Condo/Town Homes! Median Price Sold was $665,000. This is Up +$128,000 or +24% over May!
NOT A BAD MONTH FOR CONDOS!
On Kauai one of the Best Realtors to contact is Vicki Agor Realtor at Kauai Garden Rentals in Koloa!
1-800-247-5599 808-742-9537, Fax 808-742-9540 Email - email@example.com A division of Charlee & Associates, Ltd., Realtors P.O. Box 57, Koloa, Kauai, Hawaii 96756
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