The only, I repeat, the only way to get a reliable read on Oahu Real Estate and Homes market conditions is to look directly at the numbers. You can download the complete report here: Oahu Real Estate Report.
Here are some highlights from the report:
-Single-family home prices dropped slightly by about 4.2% to $632,500.
-Condominium prices remained stable with a 0.9% increase to $338,000.
-The number of sales over the last 3 months continue to drop with single-family homes down 28.7% and condominiums down 31.9%.
-Both sales and median price numbers for single-family homes in Waialae-Kahala have seen record increases for this month. And condominium price numbers experienced a slight jump in the Downtown-Nuuanu areas.
-The July 2008 Spotlight content provides more tips and insight into current investor opportunities and also mentions the use of 1031 Exchanges. Now is a great time for investors to take advantage of a slow market and re-evaluate their current holdings and take advantage of opportunities to re-invest.
August 28th, 2008 at 1:19 am
Kawika, I like the cut of your jib. If a Seller has owned longer than 3 years, they are in great shape.
Aloha,
Keahi