The single family home neighborhood of Kapahulu-Diamond Head is very chop suey in that there is a wide mixture of dwellings. For research purposes, this neighborhood is geographically defined by the Honolulu Board of REALTORS® as Tax Map Key , Zone 3, Sections 1 through 4.

There’s been quite a bit of activity in this neighborhood and the median price has been stable. During 2007, a total of 206 homes were sold in this area which was down 10.4% from the 230 sales in the prior year. For the first 2 months of 2008, there were 25 sales compared to 33 in the same time period of the year earlier, a decrease of 24.2%.

The median price paid for a house was $852,000 during the January-February period this year, compared to $775,000 in the same 2 months of 2007, an increase of 9.9%. For the entire last year, the median price was $816,800 which was a 5.4% increase from the 2006 full-year price of $775,000. The highest price paid for a home in 2007 was $7,550,000, while the lowest price of last year was $300,000. The minimum amount paid in 2006 didn’t change much, it was $299,000, but the maximum was significantly higher at $10,800,000.

The speed of sales increased in 2007 by 2 days, going from 34 days in 2006 to 36 days last year. In the first 2 month of this year, the speed has risen to 40 days.

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 Ewa Plain neighborhood has experienced a significant expansion in housing as it is one of the few areas with available land for growth on O’ahu. For research purposes, this large neighborhood is geographically defined by the Honolulu Board of REALTORS® as Tax Map Key, Zone 9, Section 1.

There was a substantial drop-off in condominium sales last year. In 2007, sales of 346 condominiums were reported, a 30.8% decrease from the year earlier count of 500 sales. For the first 2 months of this year, condo sales totaled 40 units, while there were 49 a year ago, a smaller decline of 18.4%.

The median price paid for a condominium in Ewa Plain last year was $292,000 which was 3.2% lower than the median of $301,800 paid in 2006. This downward trend is continuing into 2008 with a median price of $272,000 for the first 2 months, a 2.7% further decline since one year ago. The highest price paid for an Ewa Plain condo during 2007 was $1,200,000.

Sales occurred more slowly last year as the Days on Market indicator rose to 46 days, an increase of 5 days since 2006. This statistic represents the median time sold properties were on the market, from the time of listing to the time of a sales agreement and excludes escrow time.

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 Ala Moana-Kakaako neighborhood has seen many new condominium projects in the last few years, as well as a revitalization of commercial properties. For research purposes, this neighborhood is geographically defined by the Honolulu Board of REALTORS® as Tax Map Key , Zone 2, Sections 3.

Sales in this neighborhood changed very little in the last 2 years, declining only by 7 units from 2006 to 2007. Last year, 2007, there were 342 sales compared to 349 in the prior year. In the first 2 month of this year, there were 59 sales, only a drop of a single sale from the year earlier.

Prices have gyrated wildly in this neighborhood. For the 2007 full year, the median price paid for a condominium was $530,000, a whopping 47.2% increase from the 2006 median of $360,000. Note that this data excludes new units, most of which are high-priced luxury units, so this increase is probably linked to the quick resale in these new buildings. The highest price paid in 2007 for a condo in this area was $4,500,000, which was $600,000 less than the $5,100,000 paid in 2006.

The Days on Market indicator showed properties changing hands with a median market time of 51 days last year, a one week speed decrease from the 2006 statistic of 44 days.

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.

An e-mail message from the Hawaii Association of REALTORS® asks its members to communicate with the Hawaii Supreme Court concerning a rule change proposal. Here’s the message:

The Hawaii Supreme Court is considering a rule change proposal that would define the unauthorized practice of law in Hawaii . If adopted, the rule would prevent a real estate licensee from explaining certain aspects of a home purchase to consumers, and assisting a client in completing or responding to a Purchase Contract. To put it simply, it would effectively prevent real estate licensees from serving their clients.

Your livelihood is at stake.

This is an important issue for all REALTORS® and other professionals and it must be taken very seriously.

The Pearl City-Aiea area is a major population center and has a mix of many older homes as well as new dwellings. For research purposes, this neighborhood is geographically defined by the Honolulu Board of REALTORS® as Tax Map Key , Zone 9, Sections 6 through 9.

During 2007, this area had the most severe drop in sales on the island, but the median prices were unchanged. Last year, 207 single family homes changed hands, a 22.5% decline from the number of 2006 sales. In the first 2 months of 2008, there was a 50.0% drop in sales.

The median price paid in the Pearl City-Aiea area in 2007 was $615,000, exactly the same as in 2006. The highest price paid for a single family dwelling in 2007 was $1,400,000. This year, with even fewer sales, the median price has jumped to $700,000 for the first 2 months.

There is a shortage of listings in this area, with only 65 homes available in February. This compares to 57 at the same time last year, an increase this year of 14.0%. Asking prices have fallen somewhat, with the median list price at $659,000, down 2.4% from one year ago.

Sales in 2007 took only 29 days to consummate, the fastest for any research area on O`ahu, including in the condominium market. This compares very favorably to the 41 days required to sell a home in 2006, in a stronger market.

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.