Hawaii’s March Market Update
If you’re wondering if now is the right time to put your home on the market, you’re in the right place. Hi, I’m Fawn Bertram with Homes By Fawn and Hawaii Life. I’ve worked with a lot of sellers and I know how difficult it must be knowing who to believe.
Well, I always say, let’s see what the data tells us. Statewide we have about 422 more Single Family Homes listed on the market and 553 more Condos/Townhomes listed for sale from last February. But Single Family Home Sale prices are continuing to rise, about $7,809 dollars on average from last February. On the other hand, Condos/Townhomes decreased from February of last year by $13,929.
Another advantage to selling your home now is that the mortgage rates are lower in March than we’ve seen in prior months. This means more buyers can qualify to purchase your home. So lower interest rates are an advantage for a seller. Worried about a crash? I think not!! You see the major influencers in Real Estate are all projecting growth and appreciation through 2020. So, be careful when you read articles saying that we are heading into a recession.
Healthy Real Estate Market
What we do see, however, is that home appreciation isn’t increasing quite as drastically as previous years, but the experts are projecting that prices will continue to appreciate through 2020 but at lower levels. And honestly, this slow down will actually benefit the housing market. Steady sales volume, moderate price increases, and more inventory across all price ranges are all positive indications of a healthy real estate market.
Look, I know there is a lot of noise out there and it’s hard to decipher. That’s why, working with an experienced expert who truly knows the ins and outs of what really is going on, is essential to maximize the return on your most precious investment. Reach out — I’d love to talk with you, 808-439-1077. I look forward to hearing from you and assisting in selling your home!