"Real Estate News for Oahu" October 2005
Reporting November 2005
Hawaii - Oahu - Real Estate Update
Oahu Median sales price for a single family home for October $620,000. Up from September 2005's $615,000 and up from the October 2004 median of $485,000.
The # of sales of homes was 412 down from 448 last month. Same month last year sold 441. If you want to know what YOUR house is worth in today's market, please email us at: HomeValue@stott.com
Condos went to $290,000 median price. This compares to September's $287,000 and up from the October 2004's $218,000.
There were 624 condos closed in October which is a dramatic drop from last month's 764 & October 04's 665. (Told you that August's 831 would be tough to beat!) If you want to know what YOUR condo is worth, email: CondoValue@stott.com
In the right panel of my Blog at www.oahurealestateupdate.com you will see a link under "Real Estate Resources" for a full statistical report of all Oahu areas broken down individually, as well as graphs and charts galore!
And, while you're there, don't forget to SIGN UP for easy information emailed FREE!
Oahu's Days on Market for October was 20 for a home and 16 for condos... Still very low historically, but we're seeing indications that is going to change. Same month last year was 29 and 24 and in October '01 those figures were 46 & 35... Note: 1996 averaged 78 for houses and 84 for condos! What a change!!
Inventory: Last month 708 homes and 981 condos were listed for sale. The median list prices finally dropped this month... Hereâs the real news indicating the changing market: On the market now: A record going back to Feb 2002 of 1321 homes for sale and a record for this year of 1483 condos. This means we're changing...first indication.
If you would like to see what's on the market in any area, email me at: ActiveListings@stott.com I can set you up on an auto email, or one-time search. Let me help you keep on top of the market! And it IS changing. This is free, no obligation!
I saw an interesting graph last month on % of owners on each island from the mainland. Oahu has the fewest, therefore, may be the most stable Island if and when the market changes. In 2004 Kauai had 21% of owners with a mainland tax bill address; Maui had 20%; Big Island (Hawaii) had 8% and Oahu had only 4%. That said, in 2004 30% of over $1M homes were sold to mainland buyers and 26% of Oahu condos over $1M.
Other friends' of mine news! (if you have something you'd like me to share, let me know!)
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Tracey, Mary Lou and I all use the same massage therapist here in Kailua. Sabino Manzulli - of Life Healing Therapies. Sabino is running a special right now if you would like to take advantage! He can be reached by email at lhf.hi@verizon.net or call him at 263-1955 to schedule an appointment. Allow 1.5 hrs for his sessions... You'll be glad you did!
So...What else has The Stott Team Ohana been up to?
Tim and Tracey's children enjoyed Halloween with Mark starting as a scary pirate and switched to a Volcano soccer player midway through the night. Ashley was yet another princess. Donna and Mike and the crew (Denise, Danielle, Michael & Matthew) are just back from Orlando Florida where we all watched big brother David graduate (Magna Cum Laude) from Devry University with a degree in Computer Information Systems (CIS). David and his fiancé Marisa are off to Seattle on a cross-country trip to find work and a new life! (The wedding is May 2006). Halloween was fun for all with Mike and Matt being Thing 1 & Thing 2. (ask if you want the photo!) George and Mary Lou have nearly completed the complete remodel of their beachfront Dune Circle home after close to one full year. They also recently adopted a new member of the family! A Rhodesian Ridgeback puppy (ask if you want the photo of him too!)
Case Study / Testimonial Letter:
"The Stott Team provides EXCELLENT communications at all phases of property management and sales. I would recommend them for great communication, professional staff and honest and friendly service."
Jim Shultz, Seller
If you are thinking of investing, buying or selling weâd like to interview for the job! Email us at: YES!InterviewTheStotts@stott.com
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Donna Stott, R, CRS, e-Pro The Stott Team 254-1515 locally
Team Coordinator Toll Free: 1-800-922-6811
DonnaStott@stott.com http://www.stott.com
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