There is a high concentration of condominiums in the Moanalua-Salt Lake neighborhood. This neighborhood is geographically defined by the Honolulu Board of REALTORS® as Tax Map Key, Zone 1, Section 1.

Sales of condominiums dropped back during 2007, about the same as for all of O`ahu. There were 247 condo units that changed hands, compared to 288 in the 2006 year. This represents a decline of 14.2% for this area while the islandwide figure was 13.8%. In the first four months of this year, there were 70 dwellings sold, a drop from the 90 that sold a year earlier. Again, this was near the overall island figure of a 24.7% decline, while sales in this neighborhood dropped 22.2%.

Median prices were stable through last year, but are starting to taper off. In 2007 the median price paid for a condo in this neighborhood was $305,000 and this was a 6.6% increase from the year earlier figure of $286,000. In the first four months of this year, the median price paid declined somewhat to $285,000, or 10.0% lower than in the same time period in 2007.

Inventory counts have ramped up since last year. In April, there were 59 units on the market waiting to be sold, a 34.1% increase from the same time in 2007. Asking prices, however, have not budged. The median asked price for the April 2008 inventory was $302,000 while last year it was $301,500.

For further information about recent activity in your specific neighborhood, check out the information available on the Honolulu Board of REALTORS® website www.HiCentral.com or contact a REALTOR® in your area.

The Mililani community consists of a large number of homes built by Castle & Cooke over the past few decades. This neighborhood is geographically defined by the Honolulu Board of REALTORS® as Tax Map Key, Zone 9, Section 5 and part of Section 4.

Single family home sales have followed the islandwide trends, with sales dropping off during 2007, but seemingly abating this year. During 2007, there sere reported sales of 314 single family properties which was a decline of 9.8% from 2006 sales. This falloff was just ahead of the O`ahu overall drop in the same time frame of 10.2%. This year, in the first four months, 93 single family properties changed hands, a slight 1.1% decline from a year ago which was by far the best neighborhood sales performance on the island for this time period.

The median price paid for Mililani homes has been remarkably stable. The median price for 2007 was $630,000, the same as the O`ahu median, and this was a 3.3% increase from the median $610,000 paid in 2006. Prices were lower through April of 2008, but they exceeded those of 2007 by 0.5%. The highest price paid during 2007 for a single family dwelling here was $1,400,000 and was $915,000 in the beginning of 2008.

Sales occurred more quickly in this area than for overall O`ahu as shown by the Days on Market indicator. In 2007, this statistic was 39 days, four days faster than in 2006 and more than a week faster than for O`ahu as a whole. This year, the indicator is showing a longer time required to sell, 49 days, a slowdown from 37 days one year ago.

Speaking of stability, look at the number of homes for sale in Mililani. In April there were 94 available dwellings on the market compared to 93 at the same time last year, an increase of just one property, while inventory for all of O`ahu increased 13.3% in the same time comparison. The median asking price has declined somewhat since last April to $640,000.

For further information about recent activity in your specific neighborhood, check out the information available on the Honolulu Board of REALTORS® website www.HiCentral.com or contact a REALTOR® in your area.

The Waipahu community is in close proximity to Pearl Harbor and Hickam Air Field and houses many military families. This neighborhood is geographically defined by the Honolulu Board of REALTORS® as Tax Map Key, Zone 9, part of Section 4.

Sales of Waipahu condos slid last year, with a 23.7% drop from 2006. In 2007, there were sales reported of 313 units, compared to the year earlier total of 410. Even though this drop seems quite large, it was the smallest decline in the leeward part of the island.

Prices have remained stable even with the shortfall in sales. In 2007, the median price paid for a condominium in Waipahu was $300,000, a 0.7% increase from the year earlier median price of $298,000. The highest price paid for a condo unit during 2007 was $549,000. This year, there’s been a price decline in the first four months to $279,000 and the high price paid for a Waipahu condo was $543,000.

Sales occur rather quicky in this area as shown by the Days on Market indicator. In 2007, this statistic was 31 days, a one day increase from 2006. This year, the indicator is showing a longer sales time, but only to 36 days.

The inventory of available condominiums in Waipahu has really seen a jump this past year. In April 2008, there were 93 units on the market, compared to just 69 at the same point in time a year ago. The asking prices have been consistent, however, with this year’s median list price at $293,500, up only $500 from April 2007.

For further information about recent activity in your specific neighborhood, check the information available on the Honolulu Board of REALTORS® website and/or contact a REALTOR® in your area.

Sales of single family homes in Kaneohe have bucked the trend showing an increase, rather than a decrease, in sales compared to last year.  This neighborhood is geographically defined by the Honolulu Board of REALTORS® as Tax Map Key, Zone 4, Sections 5 and 6, and parts of Sections 4 and 7.

The were 192 homes reported sold during 2007. This was an increase of 4.3% over the prior year sales. In the first four months of this year, sales have declined at about the islandwide rate, going from 59 sales down to 44.

Median prices for single family properties have performed well, recently exceeding the overall O`ahu figures. The median price paid in 2007 was $703,000 which was a 0.6% increase from the median of $699,000 paid in 2006. This year, however, the median price for the first four months of the year was $731,500. This price represents a 6.0% increase from the same months last year when the price paid was $690,000. The highest priced sale posted in Kaneohe for 2007 was $1,765,000.

Sales speed, measured by the Days on Market indicator, was about the same in 2007 as it was in the prior year. During 2007, residential properties required 51 market days, while in 2006 it took 48 days for homes to sell. In the first four months of 2008, sales time rose to 67 days, up from 63 days in the same time period last year.

The April inventory of available homes has actually contracted since March, with 88 properties now for sale compared to 94 last month. A year ago, in April, there 83 homes for sale. The median list price for a Kaneohe single family home is $754,500.

For further information about recent activity in your specific neighborhood, check the information available on the Honolulu Board of REALTORS® website and/or contact a REALTOR® in your area.

The statistics for O`ahu home sales were released today by the Honolulu Board of REALTORS®. Basically, there was a continuing decline in resales, but prices have been holding steady.

During April, there were sales of 256 single family homes and 384 condominiums on O`ahu. This compares with 342 and 527 sales, respectively, in April 2007, for decreases of 25.1% and 27.1%.  Year-to-date, there have been 929 single family dwelling sales and 1,421 condominiums. Compared to the same time period a year ago, sales have declined by 23.0% and 24.7%, respectively.

Median prices paid for O`ahu properties in April were $639,000 for single family homes and $327,000 for condominiums.  Note that these prices have been quite stable, unlike many Mainland markets, particularly in California. The medians for the entire first four months of 2008 are $625,000 and $329,000, almost the same as the same time period in 2007. Price changes differed widely for O`ahu neighborhoods, but rather than repeat them here, be sure to check out the neighborhood charts in tomorrow’s Honolulu Advertiser.

Sales speeds, measured from the time of a property listing to an agreement, were faster last month.  A median market time was needed of 43 days for single family homes and 33 days for condominiums, both being the fastest this year.  Compared to last year in April, single family home sales have sped up two days and condominiums by five days.

For further information about recent activity in your specific neighborhood, check the information available on the Honolulu Board of REALTORS® website and/or contact a REALTOR® in your area.