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.

Post from: Hawaii Real Estate Reporter

Want to Know What’s Really Going on in Oahu Real Estate? Look at the Numbers Yourself!

Note: you can download our latest real estate report here
KEY OBSERVATIONS
Despite sales numbers being down again this month, Oahu median prices saw little change in the three-month period between March and May 2008 compared to the same period last year for both single-family homes and condominiums. Median prices for single-family homes saw a slight dip of -1.5%
to $640,000. Condominiums have remained flat at $325,000. Our Oahu Real Estate Report looks at both monthly numbers as well as a rolling
3-month period as it provides better indicators of trends that are happening in the market.
There have been moderate changes in median prices in areas across Oahu. However, there are a few areas that have seen continual growth this year
including the single-family areas of Manoa and Pearl City-Aiea. In the condominium market the Waikiki and Kapiolani-University areas have also seen
steady price appreciation this year. We encourage you to research neighborhoods that you are interested in. In addition to the 30 areas highlighted on
the report, Prudential Locations tracks real estate data for over 200 unique neighborhoods across Oahu, many of which have their own unique trends.
For more information on a specific neighborhood, please contact your Prudential Locations agent.

Click Oahu Real Estate Sales Chart To See Full Size:

Post from: Hawaii Real Estate Reporter

Oahu Real Estate Report May 2008