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Median Sales Prices Rising

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Now that we have come into the fourth quarter of 2012, it’s time to evaluate some market statistics again to see how the Hawaii real estate market is performing. It turns out that we are seeing an improvement in several areas, year over year. With performance reports on home prices, the number of properties available on the market, how long it is taking to sell those homes and more – here is a brief snapshot of our marketplace plus some links for more information.

Click Here For the Monthly Housing Stats

Median Home Prices Increased 9% From Last Year
Most notably, our median home price has jumped up a fairly significant 9%, with the price going from $557,500 in August 2011 to $609,000 by the same time in 2012. This is primarily for single-family homes and the jump demonstrates a definite strengthening market, though Hawaii has not been nearly hard hit as most of the rest of the country during the past several years.

Median home price, while telling in some ways, mostly indicates the halfway point of what homes sold for in that time period. In other words, half the homes sold for more than the median price while the other half sold for less.

Additional Market Statistics
Aside from information about home prices, in the following reports we have included detailed market statistics, broken down by neighborhoods, about the number of new listings, closed sales, list to sale ratio, the number of days on market plus inventory levels. Please look through our reports and contact us if you have any specific inquiries.

And as always, if you or anyone you know is interested in locking in these amazing interest rates to buy or invest – or if you feel it’s a good time to jump off the fence and sell your home – contact us today. You can call us, text us or send us an email. We look forward to serving you!

Below is an excerpt from one of our recent radio shows, where we discuss current market trends and updates.