The Oahu, Hawaii Real Estate Market - Looking Back
It's been a long bumpy road for most of us, especially the real estate market. However, it's not all bad news for the Oahu, Hawaii housing market. Let's take a look how the market did over the past 20 years.
The median price of a single-family home on Oahu has increased from $290,000 in 1999 to $575,000 today. That is about 98% appreciation. Just to give you something to compare with, the Dow Jones Industrial Average performed around 11,000 in 1999, and it is about the same at of the end of 2009.
As you can see from the figures above, the overall, long term cycle always appears to improve and increase. It you are thinking about purchasing properties, this is a great time.
Quick Market Stats:
Number of Sales
Condominium: 349 (14.2% DOWN from last month)
Single Family: 265 (6.4% UP from last month)
Median Sales Price
Condominium: $300,000 (6.2% DOWN from last month)
Single Family: $550,000 (6.7% DOWN from last month)
Days on market
Condominium: 36 days (4 days MORE than last month)
Single Family: 34 days (8 days LESS than last month)
Inventory
Condominium: 1,588 (9.2% DECREASE from last month)
Single Family: 1,100 (8.2% DECREASE from last month)
It's always interesting......when trying to look forward, it is helpful to take a look back.
Mahalo For Reading.
If you or anyone you know is thinking about buying or selling a condo in Honolulu, Hawaii, it would be my pleasure to help.
Douglas Fischer, R.A., REALTOR, ePro, C.D.P.E.
RE/MAX Honolulu
www.HNLCondos.com
808-497-3810
Douglas@HNLCondos.com
Douglas is an experienced and respected Honolulu, Hawaii Realtor Associate, in partnership with his Japanese speaking partner, Christopher Sumida, who specialize in residential Real Estate and the sale of Condos in the greater Honolulu area including the neighborhoods of: Waikiki, Diamond Head, Ala Moana, Kakaako, Kapiolani, Makiki, Chinatown and Downtown Honolulu.
