“Real Estate News for Oahu” with January 2006 Statistics

Reporting February 2006

Hawaii – Oahu – Real Estate Update
Fifth month in a row of lower numbers of sales.  While Oahu Median sales price for a single family home took a hop up to $615,000 in January from $610,000 in December, it doesn’t mean much without the demand to hold it up.  Inventory is growing dramatically (see below). It’s still a high median price compared to January 2005’s $505K but I’m not impressed. It does show you have a bit of time though if you are thinking of selling. We’re at that peak but time may be running out. The # of sales of homes fell to 303 homes sold in January compared to 333 last year and 342 the year before and is the lowest sales month since Feb last year, which historically is a bad sales month. Anxious to see how Feb turns out THIS year… If you want to know what YOUR house is worth, please e-mail us at: HomeValue@stott.com