This map shows us the % of increase of decrease of the average sold prices of the 2nd quarter 2008 vs. 2nd quarter 2009. The map also shows us the average for sale and sold prices as of June 30th. ’09.
This map shows us the ACS%’s of each of the areas. The ACS % is a % of total inventory for sale that is in escrow with a Just Accepted Offer. This gives us an indication how high the demand is and how healthy the inventory is, ie, too high or low. The map also gives us the average for sale and sold prices for the month of June ’09 for both single family homes and condos.
This map shows us what some of the developments in Ewa are doing in terms of ACS% and average for sale and average sold prices for the month of June ’09.
Demand as measured by ACS% has dropped off from last month and the median sold price has risen by +3% over the past 12 months. One has to be real careful here, trying to interpret this data as we can either look at this and surmise that the increase in just a normal increase in the median sold prices due to the fact that the market is at it’s peak time for the year. Or…we might hypothesize that Ewa is going ‘Flat Line’ and has hit ‘bottom.’ That is, bottom of the market. This would be great for all of us.
Sales are very strong and up +10% over the last 12 months and they look like they are going to continue to climb.
What is also good and in favor of us interpreting this data that Ewa has hit the bottom is this graph showing the Days On Market or D.O.M. pretty much flat line. Yes, the D.O.M. did increase by +14% from January to May but it is also on the way down while the rest of the island is going up. You might even say that 135 days is a long time to sell a home and you would be correct. But please keep in mind that Ewa is selling more homes than any where else on the Island, each and every month.
New listings are way off and this has gone a long ways towards reducing the inventory and creating a healthy Ewa market.
The reduction in the median for sale price of new listings is normal all over the island as buyers are choosing to purchase in the lower price points.
From these three pie charts we can see how the inventory for sale is split up and what is going into escrow right now the most are homes priced $400,000 to $499,999. We can also see that the Solds, which is 45+ days old data is split between $300,000 to $499,999 almost evenly. What is important here is the “In Escrow” pie because this telling us that, unlike the Sold Pie, the price point going into escrow, ‘Right Now’ is $400,000 to $499,999. This means buyers are putting in offers for homes at a higher price than they did over 45 days ago. This is a good thing.
I hope you have enjoyed this report. I like to be well informed so that I know what I am doing. If your Real Estate Agent does not know this data for ALL of the Island you should give me a call. This is what it takes to get top $ for your home and to get the best deal for all buyers. Call me.
I wish you much Aloha,
Mike Gallagher/ Broker in Charge, RE/MAX Honolulu
Ethics Complaints Review Committee Member
808-384-9015 mikeg@hawaii.rr.com
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