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.

This entry was posted on Thursday, May 8th, 2008 at 6:06 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.