Real Estate Market News
Oahu Real Estate Market Report
August Oahu Condominium Sales Highest in Over a Decade
“The 575 closed sales for condominiums is the highest we’ve seen since 580 sold in August 2006,” said Sue Ann Lee, president of Honolulu Board of REALTORS®. “Although this August’s condo sales did not break the record-high of 831 set in August 2005, it is still the highest we’ve seen in eleven years. Condos and townhouses are becoming an attractive alternative for home buyers due to the affordable price point. The 11.2% increase in condo inventory throughout Oahu provided consumers with more selection, as demonstrated by the nearly 30 percent increase in pending sales.”
Properties are still moving fast, Given the historically low inventory on the market, on-the-fence sellers should consult a REALTOR® about listing, as now may be the right time.”
Residential real estate is in high demand! If you are considering putting your home on the market, or taking advantage of the low interest rates, feel free to contact me for additional information. I'd be happy to provide you with a home value estimate or help answer any questions regarding your real estate needs.