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.

This entry was posted on Thursday, March 20th, 2008 at 9:40 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.