People Trying to Get in While They Can on Oahu - Home Buying on Oahu

Here are some recent statistics on Single Family Home Sales that may give some insight into what is going on in the East Oahu real estate market. Over the past 6 mo, we have seen many more properties getting into bidding wars and/or selling over the list price at the time of sale, especially in Kailua. Many first time homebuyers have finally decided that they want to get in the market and some, who may qualify, are eager to take advantage of the $8K First Time Homebuyer Tax Credit for 2009. Others see this as a very good time to trade up, with interest rates still so low. I expect the market will get a little more crazy in the next few months as the end of year approaches, particularly, in the lower price points and condo market.

Kailua
Price Point
- Under 700K, 47 sold, with 17 (36%) AT or ABOVE asking price, Avg sold/list ratio was 97%, avg 76 DOM
- 700K to $1M, 57 sold, with 14 (25%) AT or ABOVE asking price, Avg sold/list ratio was 97%, avg 64 DOM
- $1M to $2M, 14 sold, with 2 (14%) AT asking price, Avg sold to list ratio was 93%, avg 116 DOM
- over $2M, 2 sold, with 0 at or over asking, Avg sold to list ration was 95%, 72 DOM

Hawaii Kai
Price Point
- Under 700K, 30 sold, with 6 (20%) AT or ABOVE asking price, Avg sold/list ratio was 95%, avg. 90 DOM
- 700K to $1M, 43 sold, with 11 (26%) AT or ABOVE asking price, Avg sold/list ratio was 97%, avg. 79 DOM
- $1M to $2M, 11 sold, with 0 at or above asking price, Avg sold/list ratio was 93%, avg. 139 DOM
- over $2M, 4 sold, with 0 over asking, Avg sold to list ratio was 88%, avg. 113 DOM

Diamondhead
Price Point
- Under 700K, 43 sold, with 9 (21%) AT or ABOVE asking price, Avg sold/list ratio was 95%, avg. 72 DOM
- 700K to $1M, 52 sold, with 8 (15%)AT or ABOVE asking price, Avg sold/list ratio was 96%, avg. 71 DOM
- $1M to $2M, 48 sold, with 6 (13%) AT or ABOVE asking price, Avg sold/list ratio was 92%, avg. 79 DOM
- over $2M, 14 sold, with 0 at or over asking, Avg sold/list ratio was 87%, avg. 84 DOM

Please note: The days on market statistics do not take into account that some properties may be re-lists. Also, the Sold to List price ratios are based on list price at time of sale, not the original list price data.