Posted by David Buck, R, BIC on July 22nd, 2010 |
Tags: Downtown, Homes, Honolulu, Moanalua, Nuuanu, Oahu, Sales Stats, Wahiawa, Windward Coast
The first half of 2010 on Oahu has been a “healthy” market to say the least.
Last month I wrote about how more homes were selling faster at higher prices in May of 2010. June continued the trend of increased volume and less days on market, however prices were somewhat flat.
Sales Volume was up 8.4% for Homes and 38% for Condos!
Homes that Sold on Oahu averaged only 32 Days on Market, while Condos averaged 31 Days. This is phenominal when you compare to the rest of the United States!
Prices were relatively flat with Median Sales Prices up .9% for Homes and down 3.2% for Condos
What does this all mean? Buyers are realizing that the market may be bottoming out Read entire post →
The Honolulu Board of Realtors’ April 2010 stats are out and once again sales volume is up. Continuing on strong momentum from March, single family home resales were up 52% and condos up 48.3% from last year!
Buyers took advantage of discounted prices as the median sales price for homes were down 6.2% and condos down 2.2% on Oahu. This has been a healthy market as buyers realize now is a good time to buy. Now that the government’s tax credit is a thing of the past, it will be interesting to see if this momentum carries into summer, which has traditionally been our strongest season of the year both locally and nationally. Read entire post →
Posted by Matt Beall, PB on April 14th, 2010 |
Tags: Big Island, Buyers, First Time Buyers, Hawaii, Honolulu, Kauai, Lanai, Maui, Molokai, Oahu, Sales Stats, Sellers
Mark Twain used to say, “There are three kinds of lies: lies, damned lies, and statistics.”
Real Estate agents are an incredibly narcissistic bunch. We love to be “#1,” “top-producing,” etc. We’re experts at padding sales figures to support our cause.
Unfortunately, the favorite measure of #1 is money (sale volume). After all, that’s what matters most, right? But…if I sell a billion dollar house, does that make me the best real estate agent in my market? What about the most “productive”?
If I “represent” both the buyer and the seller in that transaction, don’t I get “credit” for $2 billion of sales? If I sell a billion dollar house, and then 10 houses for $1 million each… my “average” home sale is $100m! Boo-yah!
Don’t believe the hype.
Sales volume isn’t what matters most. For us, the standard of service is everything. We’re not organized around the money, we’re organized around the people we represent. People hire us not because we’re “top-producing,” but because we provide a higher level of service.
We’re not #1, YOU are (and that’s no lie).
Posted by David Buck, R, BIC on February 5th, 2010 |
Tags: Diamond Head, Kapahulu, Makaha, Nanakuli, Oahu, Sales Stats, Wahiawa, Windward Coast
There was a recent article in the Pacific Business News titled 2010 Oahu home sales off to fast start that talked about how we’ve been on a roll here on Oahu with home sales up every month since January 0f 2009! Year over year home sales were up 33% with 166 sales and condo sales up 43% with 227 sales! This momentum has definitely carried on from November and December of 2009. What was interesting to see was the median price of a single family home was up 11% from last year, while the median sales price Oahu condos was down 2%. While the numbers were great, real estate is always local…
Where was up?
Where was down?
- Wahiawa experienced the highest depreciation with prices down 32.8% year over year
- Makaha/Nanakuli had the largest drop in number of sales down 61.5% year over year
Posted by Matt Beall, PB on February 5th, 2010 |
Tags: Agents, Sales Stats
Super Mega Ultra REALTOR
Realtors are an extremely narcissistic group of people. They love to give themselves awards:
“Million Dollar Producer”
“President’s Circle”
“Grand Centurion”
“Top Producer”
The list goes on… but let me ask this: Does anybody care? Do our customers and clients care about awards that we give to ourselves, or are they more concerned with our standard of service? Does that average consumer have any idea what the innumerable acronyms that follow a Realtors’ name even mean? Here are some, you tell me: AHWD? RFS? RSPS? TRC?
Don’t get me wrong, we extremely value the commitment and hard work that’s required to succeed in this industry and we’re absolutely committed to education:
Hawaii Life is an extremely well-educated group of brokers and agents. We have very high percentage of licensed real estate brokers (as opposed to licensed salespeople). We have an exceptionally high number of Realtor designations: Graduates of the Realtors’ Institute, Certified Residential Specialists, Accredited Buyer Representatives, and so many more.
Part of the reason we have so many brokers with professional designations is because we pay for our Realtors to be educated. This year alone, we’ve been responsible for converting 5 new salespeople to become licensed real estate brokers! I don’t know of any other company in the State that offers this service for their brokers and agents. We do it because we take our commitment to our clients and customers very seriously.
There’s a very serious danger to “Awards”. It’s one thing to acknowledge each other for our hard work and commitment… it’s an entirely different thing if a Realtors’ focus is distracted from the clients best interest because of some “Award” status. It can happen quickly when Realtors are awarded for the number of houses sold in a certain time period, or sales volume, etc.
Our clients are PEOPLE. Just like our brokers and agents. They’re not UNITS, or VOLUME.
Posted by David Buck, R, BIC on January 31st, 2010 |
Tags: Diamond Head, Kahala, Luxury
3939 Kahala Ave.
There are two homes that recently sold on the boarder of Diamond Head and Kahala that have had tremendous appreciation compared to the rest of Oahu and the nation for that matter.
- 3939 Kahala Ave. just closed today at $3,150,000. It last sold January 23, 2008 for $2,340,000 for an appreciation of 34.6% over 2 years or 17.3% annualized return.
- 4322 Kahala Ave. also just sold on 1/26/2010 for $3,500,000. It last sold for $2,600,000 on July 25, 2008 for an appreciation of 42.3% over 1.5 years or 28.2% annualized return.
These aren’t bad returns considering the economy and other investment vehicles. The stock market is still volatile, everyone is running to gold and how soon we forget how real estate can be a great asset class to invest in :)
If you’re looking for some well price homes near these, here’s a few:
4322 Kahala Ave.
One wild guess why these have gone up while other areas of the island have gone down? Location, location, location….
View my favorite Oahu luxury homes →
Posted by Tobi Fisher, R(S) on January 11th, 2010 |
Tags: Makena, Maui, Sales Stats, Wailea
We were all relieved to see the Maui Real Estate Market take an upswing towards the later part of 2009. Things are looking promising as the Canadian dollar strengthens and prices adjust. Below are the December 2009 & 2009 Year End Maui Real Estate Statistics. Wailea and Makena Real Estate continue to lead the state in the luxury real estate market.
- December 2009 Sales Volume – Residential Sales posted a 17-month high with 90 sales and Condo Sales rose to 80 units. Land sales dropped to 9 lots.
- December’s Median sales prices – Homes rose to $477,000, Condos remained steady at $401,500. Land declined to $305,000.
- Days on Market for Residential homes = 154 DOM, Condos = 170 DOM, Land = 111 DOM.
2009 Year to Date
- Residential unit sales declined (-24%), average sold price = $713,946 (-14%), median price = $498,106 (-14%) and total dollar volume sold = $494,764,887 (-35%).
- Condo unit sales increased (4%), average sold price = $719,993 (-22%), median price = $450,000 (-18%). Total Condo dollar volume sold = $593,273,850 (-18%).
- Land (NOTE: Land Lot sales were so few that statistics are not necessarily a reliable factor) lot sales declined (-10%), average sold price = $1,111,387 (+12%), median price = $485,000 (-31%), Total dollar volume = $121,141,185 (+23%).
TOTAL SALES FOR 2009
- Residential = 693
- Condo = 824
- Land = 109
December 7, 2010 – Active/Pending/Contingent status inventory
- Homes 996
- Condos 1,495
- Land 522
Current Absorption Rate base on this month’s inventory divided by Dec. Sales is:
Residential = 11 months, Condo = 18.6 months, Land = 58 months.
View the complete list of year-end sales statistics for Maui
Posted by Matt Beall, PB on January 9th, 2010 |
Tags: Maui, News, Sales Stats
Maui’s real estate market saw a relatively significant boost in December… compared to the December before. More than twice as many homes and condos sold on Maui this past December as did in December of 2008. And, since Maui is the largest “neighbor” island market, the numbers aren’t quite as simplistic as the same stats might be on other islands. (The Island of Lanai, for example, had only one sale in December. So, if two sell next December, that will a 100% increase!). Ninety single family homes and 89 condos sold in all of Maui County this past December, compared to 55 homes and 38 condos in December of 2008.
Of course, Maui’s real estate market isn’t the only thing that’s changing on the Valley Isle. Maui Land & Pineapple announced in November that it was getting out of the pineapple business, and though some jobs were lost, many of their former employees were hired by the company who has taken over the pineapple operation and assets, Haliimaile Pineapple.
And, a longtime Maui icon, the Hotel Hana Maui, is apparently being purchased by a mainland firm.
Of course, there’s more… Hawaii Life is currently in negotiations for an office space on Maui, and we’re organizing a team of Realtors who are among the most successful and influential professionals on Maui, and in Hawaii. We’re thrilled, and we’ll keep you posted. Change is definitely in the air for Maui real estate.
Mauna Kea Beach Resort
Owning real estate at the Mauna Kea Resort is like owning a piece of history, or having money in the bank. Since 1965, when Laurance S. Rockefeller opened the world famous Mauna Kea Hotel on the gorgeous white sandy beach of Kauna’oa, people have flocked to “belong.” 
The Mauna Kea Beach Hotel took a jolt during the 2006 earthquake and had to close for construction and remodeling. This Kohala Coast “Grande Dame” reopened December 2008 in pristine condition and was graciously received by her “fans” having maintained the previously adored look and style. I worked at a boutique real estate office in the Mauna Kea and Hapuna Beach Hotels upon their reopening – owners and guests alike were absolutely thrilled that the feeling of time standing still was intact. Turning from the highway onto tree-lined Mauna Kea Beach Drive, down through the security gates, past the golf course to witness the ocean crashing into the bluffs as the hotel emerges ever beautiful – you know you’re somewhere unique. The staff remembers your name.
Robert Trent Jones, Sr.’s award-winning golf course and its recent updates and beautification by Rees Jones, continues to “wow” golfers and guests of the Mauna Kea Beach Hotel. An avid golfer myself, it’s exciting to see that the Mauna Kea Golf Course and clubhouse have received nearly 20 awards of distinction in the past 12 months. 
As always, I am happy to share the knowledge I have gleaned by working, living and loving the entire Kohala Gold Coast.
2009 – what an incredible honor and privilege to lead such an amazing team of Brokers and Agents to success during a “down market…” to be one of the top ten offices in our market!! Mahalo nui loa, Lucy, Jan, Pam, Beth, Deb, Erik, Heidi, Pat. And welcome, Pattie Freeman!
Some Big Island Hawaii Life statistics for 2009: (or – why you should list your property for sale with Hawaii Life)…
Kohala "Gold" Coast Sunset
Hawaii Life has brought the buyer 50% of the time for company listings that have sold on the Big Island.
Hawaii Life Listings sell for (a median of) 91% of their List Price.
Hawaii Life Listings sell on average at 116 Days on Market, or just under four months.
173 real estate offices have listings on the West side of the Big Island (TMKs 3-5, 3-6, and 3-7)… only 8 brokerages have more listings than Hawaii Life.
For overall sales in our target market (Kailua-Kona north through Waimea and North Kohala), Hawaii Life Big Island ended the year at #9 out of 168 offices, and we only started in April. Wow!
A hui hou, 2009 and aloha, 2010!
Hau’oli makahiki hou!
