Hawaii Life Real Estate Brokers » Nanakuli

Oahu Home and Condo Sales Took a Holiday in December

David E. Buck, R, BIC — Thu, 19 Jan 2012 22:20:21 +0000

Resales of single family homes were down 14.5% and condo sales down 6.5% in December.

Every year, we typically see a dip in volume over the Holidays. However, this year was more significant compared with December of 2010.

This Waimanalo home (MLS # 1112647) is priced at December’s median price of $605,000

Meanwhile, the median price of a single family home on Oahu was up 3.4% to $605,000, which was the highest month in 2011! The median condo price was down 5% to $300,000. We’re also noticing a similar trend to November in that both inventory and listings are down significantly on Oahu, when compared to 2010. Once again, a great reason to consider listing your property…

This Ala Moana Hotel Condo (MLS # 1110106) is listed for December’s median price of $300,000

As always, all real estate is local. To find out what is happening in your neighborhood, contact one of our great Realtors on Oahu to see what is going on in your market, and if now is the time to buy or sell.

Neighborhoods “Hot” for Sellers

Home sales on the North Shore were up 60%
Home prices in Makaha-Nanakuli were up 41.2%
Condo sales in Makaha-Nanakuli were up 111.1%
Condo prices on the North Shore were up 87.1%

Neighborhoods “Hot” for Buyers

Home sales in Kaneohe were down 50%
Home prices in Aina Haina-Kuliouou were down 52.4%
Condo sales inMakakilo were down 77.8%
Condo prices in Ala Moana-Kakaako were down 44.7%

Strong Finish for Oahu Home Sales as August Heated Up

David E. Buck, R, BIC — Sat, 10 Sep 2011 02:50:14 +0000

After June and July ended up being a slower home buying season compared to summers past, August finished strong. Home sales were up 20.8% and condos sales up 15% from 2010!

This Westloch Estates home (MLS# 1108942) is priced just under August’s median price of $557,500

We were holding our breaths the last few months as there were so little sales, however, it was apparent with the uptick in pending sales that led me to believe we were bound for a jump in sales volume. That’s the good news. That bad news is the median price of home sales was down 13.1%. Meanwhile, condo prices were down just slightly to a $300,000 median, or a 1% drop from 2010.

This Ala Moana Hotel Condo (MLS# 1110106) is available for August’s median price of $300,000

Although prices are down from 2010, we may start to see some slight upward pressure as sales volume was up and new listing inventory was down 12% for single family homes, and also down 8.9% for condos. Pending sales also took a major bump up as they were up 17.8% for homes and up 26.5% for condos! This should make for some strong September and October stats.

What neighborhoods were ‘hot’ for sellers in August?

Home sales in Makakilo were up 125%
Home prices in Mililani were up 25.3%
Condo sales in Makaha-Nanakuli were up 200%
Condo prices in Wahiawa were up 30.4%

What neighborhoods were ‘hot’ for buyers in August?

Home sales in Moanalua-Salt Lake were down 75%
Home prices on the North Shore were down 44.6%
Condo sales on the Windward Coast were down 100%
Condo prices on the Windward Coast were down 100%

July Home Sales and Prices on Oahu Down From 2010

David E. Buck, R, BIC — Fri, 12 Aug 2011 04:05:40 +0000

Although sales of single family homes on Oahu in July were down 7% from 2010, Realtors on Oahu closed as many transactions as June with 251 sales. Prices were also down 2.2% from last year. On a brighter note, they took a tick up from June’s median price of $575,000. It also took homes that sell* an average of 34 days on market.

This Waialua home (MLS# 1107210) is listed near July’s median sales price of $591,000

*Homes that don’t sell aren’t factored into the 34 days on market stats. There are many homes that do not sell and are either withdrawn from the market and/or re-listed at a later date. If you attempted to sell your property without success and it is no longer on the market, feel free to contact me for more information about our smart marketing and solid representation.

This Kakaako condo (MLS# 1107389) is listed near July’s median sales price of $277,000

The condo market on Oahu also followed the single family trend as sales were down 8.3% and the median sales price was also down 7.7% from last year to $277,000. This is the lowest median price for condos this whole year! This may be a sign of a buyer’s market brewing for condos…

What neighborhoods were ‘hot’ for sellers in July?

Home sales in Moanalua-Salt Lake were up 150%
Home prices in Moanalua-Salt Lake were up 79.3%
Condo sales on the north shore were up 50%
Condo prices on the north shore were up 15.3%

What neighborhoods were ‘hot’ for buyers in July?

Home sales in Kaneohe were down 51.7%
Home prices in Makaha-Nanakuli were down 25.8%
Condo sales in Aina Haina-Kuliouou, Wahiawa and the Windward Coast were down 100%**
Condo prices in Aina Haina-Kuliouou, Wahiawa, and the Windward Coast were down 100%**

**There were no sales in either of these 3 neighborhoods. This is also the most neighborhoods I’ve seen without any sales in a very long time.

As always, all real estate is local. To find out what’s happening in your neighborhood, contact one of our great Realtors on Oahu to see what’s going on in your market, and if now is the time to buy or sell.

New Construction Homes For Sale on Oahu

David E. Buck, R, BIC — Thu, 09 Jun 2011 20:45:43 +0000

Rendering of a new home to be built in Diamond Head (MLS# 1105799)

There’s nothing like moving into a brand-new home. I often have clients looking for something brand-new. However, new construction is hard to come by on Oahu for several reasons:

Limited supply in available land to build
Builders are holding back on releasing inventory over the last few years
Many buyers don’t know where to look (yes, this is true)

Unfortunately, buyers have little control over items #1 and #2 above, however, they can overcome reason #3 if they work with a good buyer’s agent. As I mentioned in my article last year about new construction, there are many new construction projects that are not in MLS.

When you work with a good buyer’s agent that has their ear to the ground, they can turn you on to these projects that you wouldn’t otherwise find searching the internet, or the newspaper for that matter. You may get lucky driving around, however, why not save some time? Contact a good Realtor on Oahu that knows the market and can help you weigh all of your options.

Did you know you can get a new home (MLS# 1103108) under $300,000?

Here’s a little sample of homes built with completion dates of 2011 or later that were in MLS. Since last year, all of the properties I wrote about and featured in my article have either sold, or are no longer on the market. As you can see, there are new homes available for almost any budget!

If you’re looking to get your hands on a new home on Oahu, contact one of us today.

Oahu Sales and Prices Down in May

David E. Buck, R, BIC — Wed, 08 Jun 2011 22:38:08 +0000

Resales of single family homes and condos on Oahu continued April’s downward trend of fewer transactions in the marketplace.

This home (MLS# 1011829) on Oahu’s Windward Coast is listed for the median price of $595,000

The bad news first:

Single family home sales were down 15.3% and condo sales were down 10.3% in May. Median prices also stumbled from last year with home prices down 0.8% to $595,000 and condos down 4.9% to $290,000.

Now, the good news:

Although April and May’s figures were not as strong as last year, both outpaced 2009′s figures. In addition, we are on track for a strong healthy summer as pending home sales are up 22.2% for homes and up 44.3% for condos in May!

What neighborhoods were great for sellers in May?

Home sales on Downtown-Nuuanu were up 33.3%
Home prices in Aina Haina-Kuliouou were up 31.6%
Condo sales in both Kailua-Waimanalo and Makaha-Nanakuli tied at 66.7%
Condo prices in Ala Moana-Kakaako were up 43.6%

What neighborhoods were great for buyers in May?

Home sales in Kaneohe were down 61.3%
Home pricesÂ on the Windward Coast were down 21.4%
Condo prices along the Windward Cost were down 52.7%
Condo sales in Mililani were down 42.3%

As always, all real estate is local. To find out whatâ€™s happening in your neighborhood, contact one of ourÂ great Realtors on Oahu to see whatâ€™s going on in your market, and if now is the time to buy or sell.

Oahu Home Sales Up and Prices Down in January

David E. Buck, R, BIC — Thu, 17 Feb 2011 21:30:32 +0000

The Oahu real estate market started the year off with a jump in sales and a dip in prices.

In January, there were 199 single family home sales on Oahu, which was up 11.2% from last year. Condo sales were also up 9.5%. Volume increases are typically signs of a healthy market and can often be a precursor to price increases. However, this month we saw a dip in the median sales prices. Single family homes were down 4.2% to $570,000 and condos were down 2.7% to $291,000.

What neighborhoods were hot in January?

Home sales in Makiki-Moiliili were up 300%
Home prices in Hawaii Kai were up 127%
Condo sales on the North Shore were up 400%
Condo prices on the North Shore were up 120%

What neighborhoods were not hot?

Home sales in the Ewa Plain were down 30%*
Home prices on the North Shore were down 32%*
Condo sales in Waialae-Kahala were down 60%
Condo prices in Makaha-Nanakuli were down 45%

*Ala Moana-Kakaako was actually the biggest drop in sales and prices at 100%, however, there are almost no homes there (primarily condos) and the sales went from 1 to 0, which skewed the data, so I replaced with Ewa for a better picture of the market.

What does this say? My guess is one of the most active markets has been the North Shore as volume is up, while prices are down, and buyers are realizing bargains during the North Shore’s winter months. The lifestyle is so genuine there.

For more information on Oahu’s North Shore, or the market here in general, contact myself or one of our great agents for more information.

Oahu Home Sales Down in October While Prices Stable

David E. Buck, R, BIC — Mon, 22 Nov 2010 23:13:55 +0000

Perhaps I got ahead of myself when I said, “don’t be scared of Oahu’s home sales” last month.

Adam Sandler on Saturday Night Live singing his Thanksgiving song

We are thankful this Thanksgiving for stable home prices on Oahu.

In October, sales of single family homes were down 16.9%, and condo sales were down 21.3% from the previous year. That’s the “scary” news. What isn’t so scary, is prices are stable with the median sales price down just 1.4% to $595,750 for single family homes, and condo prices remained unchanged with a $300,000 median price. On a positive note, here are two strong indicating factorsÂ that should boostÂ November sales:

Pending sales for homes are up 28.5%, however, condos down 6.9%
Days on market for homes to sell are down 32.7% from 52 to 35 days, and condos down 37% from 54 to 34 days!

What does this mean? Although the numbers of sales were down, they are not only trending back up, they are also selling faster! This time of year is typically a slow season, however, it’s shaping up to be a busy season for home buying. With historically low interest rates, buyers are realizing some great opportunities.

Here’s what was “hot” on Oahu in October:

Homes Sales: Windward Coast was up 100%
Home Prices: Waialae-Kahala was up 40%
Condo Sales: Kalihi was up 50%
Condo Prices: Waialae-Kahala was up 105.6%

Here’s what wasÂ ”not” on Oahu inÂ October:

Home Sales: Waialae-KahalaÂ was down 73.3%
Home Prices: North Shore home prices down 24.9%
Condo Sales: Kapahulu-Diamond Head and Waialae-Kahala were both down 50%
Condo Prices: Makaha-Nanakuli was down 34%

Did you notice something strange? How could Waialae-Kahala be both “hot” and “not”? Although prices were strong, there were very little sales. As sales volume typically leads prices in a real estate cycle, the Windward Coast and Kalihi may be some areas to keep an eye on.

If you’re thinking about buying, or selling real estate on Oahu, contact one of us today!

January Home Sales on Oahu up 33%

David E. Buck, R, BIC — Sat, 06 Feb 2010 01:52:49 +0000

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%.Â While the numbers were great, real estate is always local…

WhereÂ Â was up?

Diamond Head/Kapahulu had the highest appreciation at 73.3 % year over year
Windward Coast with sale up 250% year over year

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