“Real Estate News for Oahu” with March 2006 Statistics

Published April 2006

Hawaii – Oahu – Real Estate Update
Oahu Median sales price for a single family home that closed in MARCH was $650,000. ALL TIME RECORD HIGH.  Compare to February’s $613,500. This compares to March 2005’s median of $550,000. The # of sales of homes also jumped dramatically in March… to 392 homes.  377 sold in March one year ago.  Do I think these prices will last? Not based on the inventory rising, days on market and # of price reductions occurring. This may be the peak month for single-family home prices for a while. Note that these were sales made in January for the most part. I think we will see the coming months will bring some lower prices unless they are swayed by several new developments that sold up to a year ago finally closing escrow. We’ll have to wait and see!