Honolulu County Real Estate Market Report- October 2009
Honolulu County Housing Market Statistics for October 2009 showed continued activity with the Hawaii Home Buyer picking up on the FIRST TIME HOMEBUYER TAX CREDIT.
Single Family Resale Numbers: In the our sales numbers for single family homes showed a very slight increase in sold single family homes from 244 to 281. The Median Sales price rose from $600,000 in September to $605,000 in October. This is an increase of 15.6% from October 2008 to 2009 and also shows a slight increase of 0.83% from September to October of 2009 in sales prices.
Condo/Townhouse Resale Numbers: Our Honolulu Real Estate Housing Market sales numbers for condos/townhouses increased slightly from 345 in September to 381 in October of 2009 and we can attribute the sales number increase the past month due to the lowering inventory on the island of Oahu. Honolulu County Median sales prices increased 20.5% from September of 2008 to September 2009 and decreased 3.2% in sales prices from $305,000 to $295,000.
I believe these ups and downs will continue as our market tries to find a happy median. With the FIRST TIME HOMEBUYER TAX CREDIT EXTENSION approved, interest rates still lower and inventory considerable down in all neighborhoods the shifting is evident with more homebuyers in the market.
These Honolulu County Market Statistics vary from neighborhood to neighborhood and I continue to experience multiple offers on homes and townhouses in all areas in Honolulu County including short sales. Stay tuned for more neighborhood market statistics or contact me at sally@hawaiihomesmarket.com for more information!
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Celeste "Sally" Cheeseman is a Realtor-Associate with Century 21 Liberty Homes in Mililani, Hawaii. With a sharp understanding that a listening ear is the key to a client's needs, she serves the island of Oahu (Honolulu County) and all Hawaii Military Relocating to Hawaii, Hawaii Retirees, Hawaii Job Transfers and Hawaii Residents.
Website: www.hawaiihomesmarket.com
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Sally, great presentation especially with the palm tree for your area. They have said the original first time home buyer tax credit and the new law with extension and current homeowner credit have been a big boost to housing overall.
Gary: You're right about that...with two short sales closing around the time the first credit was due to expire ...we were squeezing. One closed...the other one closing the second week of Dec. Overall, it's brought the homebuyers out over here for sure....with multiple offers!!!
Sally you always do an exceptional job with your reports. They are so easy to understand. Like Gary mentions that background is beautiful:)
Sally - It's nice to see some positive trends in your market and your reports are beautifully presented. Great information for buyers and sellers in your area.
Hi Sally! Wow! I'm just in awe of your gorgoeous market report! Glad to hear you're dealing in multiple offers too--what a treat that is these days!
Have a wondeful weekend...
Nicely done... and it certainly looks like there are some positive things happening in your market. We will keep our fingers crossed that theses trends continue across the country.
Sally great job on the Market Report. It is nice to see an increase in sales, hope it keeps going in that direction.
Woo Hoo, Sales and Prices both going up. I am sure the Sellers love it and the Buyers are getting a fire under them. It is gradual and slow as we go and that is good thing. Nice uptick to report though.
Thanks to all for stopping by to check out our market here! Have a great Sunday!