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.

This entry was posted on Monday, May 5th, 2008 at 4:30 pm and is filed under Island Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.