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.
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.
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?