Prudential Locations released it’s October 2008 – 3rd Quarter Oahu Real Estate Report today. You can download the October 2008 Oahu Real Estate Report here. Some highlights:
The third quarter of 2008 saw fewer real estate transactions compared to the third quarter of last year, with 23.7% less single-family homes being sold and 22.8% fewer condominiums. Home prices experienced a dip of about 3.8% to $625,000, and condominium median sales prices showed a slight 1.5% decrease for the first time this year to $325,000 compared to last year’s levels.
Several market areas for single-family homes saw a considerable increase in median price numbers in the past three months compared to last year. Areas that have seen the greatest increases include Nuuanu-Makiki with a 12.3% increase to $800,000 and North Shore increasing 18.2% to $862,500. For condominiums, the Downtown-Nuuanu area has increased 15% to $412,500, Ewa increased 13.7% to $330,950 and Waikiki, which continues it’s steady price appreciation this year, has increased 7.5% to $288,000.
Oahu Single Family Home Price Trends October 2008
Oahu Condo Price Trends October 2008
Also in this report:
Spotlight: How Are You Affected By the Market?
Hawaii’s changing real estate climate affects buyers, sellers, and investors in different ways offering each a unique set of advantages and challenges. Download the complete report which includes a chart highlighting the roles and outlook of buyers, sellers, homeowners, renters, flippers and long time investors, and also provides insight on how each can better survive and succeed.
October 16th, 2008 at 6:59 pm
Looks like the trend of prices adjusting down is going to continue for a while
October 16th, 2008 at 10:00 pm
Excellent graphics and analysis. Further evidence that this is a good time to buy.
Aloha,
Keahi