The Hawaii Real Estate Market is heating up creating opportunity for Buyers and Sellers. 

Buyers are BACK! Buyers are taking advantage of conditions in the market to get great deals on property. Only 35% of single family homes sold in March sold at or above asking price. Last year homes were selling much quicker than they are now but since February the average days on market dropped 10 Days. Buyers aren't wasting time getting their hands on a home!

Overall purchase price is lower than last year, buyers are taking advantage of market conditions to get a great deal! Interest rates have come down a bit, giving buyers back some purchasing power. while still leveraging seller credits Across the board In March the median sales price for condos was record breaking at $536,000 while the median price for single family homes remained over a million dollars. Inventory remains

 

Only 35% of single family homes sold at or above asking price in March since properties are continually sitting for a longer time  While we see advantageous conditions for buyers, including fewer bid-ups and longer days on market, prices are still high, which incentivizes sellers to list their property.”

Housing inventory increased month over month, but still decreased in comparison to last year. Low inventory is keeps sales prices high motivating sellers to list their homes.