How is the market?Â 5 people have asked me this question since this morning.Â Of course it's common for people to ask me this, but right now I sense that many people don't see a clear direction for the market right now.Â
We can look back and see that since last year prices around Oahu have risen 5% on average for all home sales on Oahu.Â Â But where is it going? Everyone wants to know .
(I predicted the bottom of the over 2 years ago, and also predicted the top of the market in 2005.)
First some median price data from the last 12 months.
- Hawaii kai prices are down 9.9% to $819,500
- Kailua prices are up 9.7% to $850,000
- Kaneohe prices are down 1% to $577,500
- Median prices in Mililani are up 19% to $602,500
- Diamond Hear prices are down $40k