Wednesday, April 19, 2006

Oahu home prices up, sales down

The Advertiser reports that the median single-home price for Q1 was $625,000:

Single-family homes sold for a median price of $625,000 between January and March, up 18 percent from $529,100 in the same quarter a year earlier.

The 18 percent rise was down from 27 percent in the year-over-year comparison for the fourth quarter, and down from 31 percent in the third quarter, when the board began publishing quarterly sales data.

...

The volume of sales was down 3 percent for single-family homes and down 5 percent for condos during the quarter. That was a smaller decline than the fourth quarter when sales dropped 11 percent for both types of homes but about even with the decline in the third quarter.

Pacific Business News digs deeper:

A total of 943 homes were sold in the first quarter of 2006, down 33 compared to the first quarter of 2005. The median price, however, was considerably higher, at $625,000 compared to $529,100 last year.
They also provide a nice breakdown of median home and condo prices by neighborhood:

Homes:

  • Metro Oahu: $735,000
  • Diamond Head: $993,000
  • Hawaii Kai: $850,000
  • Kailua: $780,000
  • North Shore: $900,000
  • Leeward Coast: $355,000
  • Ewa Plain: $515,000
  • Pearl City: $590,000

Condominiums:

  • Metro Oahu: $300,000
  • Diamond Head: $450,000
  • Hawaii Kai: $555,000
  • Kailua: $412,000
  • North Shore: $327,000
  • Leeward Coast: $178,000
  • Ewa Plain: $309,500
  • Pearl City: $280,000
Diamond Head and North Shore are thisclose to breaking $1 million. Think it'll happen Q2? Later? Never?

5 Comments:

At 4:49 PM, Blogger Hilton said...

I wish I knew that answer. Great blog.

 
At 11:32 AM, Blogger HomePriceMaps.com said...

www.HomePriceMaps.com integrates how much homes SOLD for nationwide using the google mapping technology. Simply select city and state from the city menu and click search. If you don't see data for your area simply email HomePriceMaps@gmail.com with your zipcode and or address and they'll update the site with your info and email you within a few days.

 
At 9:52 PM, Blogger bearmaster said...

Hello Aloha Bubble,

I have added your blog to my map of housing bubble blogs (just scroll down a bit). Nice to find somebody finally covering Hawaii. Cheers.

 
At 6:26 AM, Blogger Beetleball said...

Thanks so much for this info. I loved the homes that I saw around Diamond Head and Hawaii Kai. I was anxious to find out the price. Your blog gave me some ballpark figures...just what I wanted. Our cab driver said the homes at the base of Diamond Head went for 8 million dollars and I found that hard to believe..even though I know it's Hawaii. These looked like your typical upper middle class homes...not estates. Any more interesting facts about real estate in the Diamond Head and Hawaii Kai neighborhoods?

 
At 10:13 AM, Blogger panicearly said...

i expect maui sfh to correct by atleast 50% within the next 4 years.

at the same time the dollar will timble another 10-15% against major currencies, mainly yen, yuan, euro.

aloha from tokyo, 15th straight year down , 70-80% off bubble peak 1991.

THe buyers are drying up fast. when mainland sinks, so does hawaii. If you bought between 04-06 you might want to dump your place on the market or be prepared to sit tight for 5-8 years for an uptick.

 

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