In the past 6 months on Oahu, homes at Ocean Pointe in Ewa Beach have fetched 99% of asking price.
This Ocean Pointe home (MLS# 1102959) is one of just a dozen active listings on the market
As of today, there are only 12 available listings for sale. Meanwhile, there are twice as many (24) in escrow! There have also been 41 sales in the past 6 months.Â Several sold above asking price and on average sellers got 99% of their asking price! Is this 2005 all over again?
One of the contributing factors is the market appears to finally have bottomed as buyers are stepping back in at lower prices than they could several years ago.Â We saw a similar scenario playing out in Ko Olina last year with the market bottoming out there as well.
We’ve also noticed a number of the short sale and foreclosure inventory is getting bank approval. This is creating a healthy market. Another factor is some savvy buyers see Ocean Pointe as an alternative to the wonderful project Haseko is devloping at Hoakalei. Although Hoakalei is newer, most of the resales at Ocean Pointe are in relative good shape and you can close quickly without having to wait for your new home to be completed.
If you think Ocean Pointe, Hoakalei, or Ko Olina is the right product for your lifestyle, contact me for more information.