Joe Segal

Third quarter sales numbers reveal interesting trends in the Oahu real estate market. Single family sales increased by 4.2% to 793 units within the three month period of July to September. The month of September closed with 274 sales, the highest number of single family sales so far in 2011. Similarly condominium sales rose 12% to 1,002 units during the third quarter with September condominium sales closing out 358 units, the second highest number of condo sales this year. Overall, Oahu median sales prices dropped 8.8% for single family homes, and 4.0% for condominiums. However on a neighborhood by neighborhood basis, exactly half of Oahu’s neighborhoods saw an increase in median price, while half of the neighborhoods saw median price declines. Some notable neighborhoods with median price increases include Ocean Pointe (+9%), Mililani and Mililani Mauka (+6%), and Aiea (+3%).

In addition to the 30 areas highlighted in this report, Prudential Locations tracks Oahu real estate data for over 300 unique neighborhoods across Oahu, all of which have their own unique trends.

Google insights for search offers an interesting view into the interest in Real Estate across the United States. What the graph shows is the volume of people searching for "real estate' in Google.

You can see the graph mirrios the seasonal nature of Real Estate sales, there is surge of interest in the summer months, and its dead in December.

I see a glimmer of hope in the very tail end of that graph, its going up! I have also seen a big surge in escrows in our Brokerage for Jan, feb and march.