Single family homes resales in Waipahu have been solid. For research purposes, the Honolulu Board of REALTORS® defines this geographic area as Tax Map Key , Zone 9, Section 4, although part of Section 4 is classified as Mililani.

There were reported sales of 320 dwellings in 2007, a 9.9% decline from the number sold in 2006, which was 355. Much of this decrease appears to have occurred in the month of December where there were only 16 sales, compared to 33 a year earlier.

The median price paid for the homes that changed hands in 2007 was $577,300. This price was a very slight increase from the $575,500 paid during 2006. In December, the median price paid was $550,000, a decrease of 1.6% from the price paid a year ago in the same month. The highest price paid for a home in Waipahu was $980,000 which, interestingly, was the only single family home area on the island in 2007 that did not have a sale above $1 million.

Sales speed, which is measured from the time that elapses from listing to a contract, was 48 days last year, a one day drop since 2006. This statistic compares favorably with the overall O`ahu number which was 47 days in 2007.

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

This entry was posted on Monday, January 28th, 2008 at 8:36 am and is filed under Island Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.