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* Oahu homes * Condos for sale * Median Sales Prices by Area, Oahu, Hawaii*

Full Year 2006
Median Sales Prices by Area
Island of Oahu, State of Hawaii, USA

The sales statistics for all of 2006 are as follows:


Single Family Home Resales

 

Number of
Sales

This Year
Compared To

 

Median*
Sales Price

This Year
Compared To

 

2006

4,041

 

 

$630,000

 

 

2005

4,617

dn 12.5%

 

$590,000

up 6.8%

 


Condominium Resales

 

Number of
Sales

This Year
Compared To

 

Median*
Sales Price

This Year
Compared To

 

2006

6,380

 

 

$310,000

 

 

2005

7,990

dn 20.2%

 

$269,000

up 15.2%

 


*Median price means half the prices were above and half below the given price.

The Median Prices shown in the chart below are the prices paid for existing residential properties reported sold through our Multiple Listing Service (MLS) system during the stated time period. The columns labeled CHG indicate the direction of price change from the prior time period (NC is no change). The following table provides the annual median prices for the Oahu neighborhood groups.

GEOGRAPHIC AREA

SINGLE FAMILY HOMES

Change

CONDOMINIUMS

Change

Entire Island

$ 630,000

Up Arrow

$ 310,000

Up Arrow

 

Metro Oahu (Town)

$ 720,000

Up Arrow

$ 300,000

Up Arrow

Diamond Head

$ 907,500

Up Arrow

$ 475,000

Up Arrow

Hawaii Kai

$ 880,000

Up Arrow

$ 568,000

Up Arrow

Kailua

$ 799,500

Up Arrow

$ 420,000

Up Arrow

Kaneohe

$ 700,000

Up Arrow

$ 370,000

Up Arrow

North Shore

$ 889,000

Up Arrow

$ 345,000

Up Arrow

Central Oahu

$ 590,000

Up Arrow

$ 305,000

Up Arrow

Leeward Coast

$ 356,100

Up Arrow

$ 180,000

Up Arrow

Ewa Plain

$ 528,000

Up Arrow

$ 301,800

Up Arrow

Makakilo

$ 600,000

Up Arrow

$ 320,000

Up Arrow

Waipahu

$ 575,500

Up Arrow

$ 298,000

Up Arrow

Pearl City

$ 615,000

Up Arrow

$ 290,000

Up Arrow



Median Sales Price means the midpoint of sales prices, where half of the sales were at prices above the given amount and half were below.

data provided by Honolulu Board of REALTORS

In 2007, we expect to see moderate , singe –digit price appreciation for overall Oahu real estate market.  Home price performance will fluctuate by area of the island , with those neighborhoods having universal and international appeal continuing to maintain value and even showing healthy increases.  (source: Prudential Research Department )

 

Finding the right neighborhood - at the right price – can be a real balancing act.

 

Of course knowing how much house you can afford is essential, but if you have kids in school, commute to work or have pets there are other factors to consider as well.

 

Ideally you want a home in a neighborhood where crime is low and property values are high , in an area that offers the right mix of parks , shopping , restaurants, churches and maybe even golf….

 

Despite the fact that Oahu is a small island , there are many diverse neighborhoods to consider each offer a unique blend of advantages.  Because prices have gone up , people are considering neighborhoods and condos that they wouldn’t have considered before.  It is better to try to get into something and then build from there. In a couple of years you can talk about upgrading into the single family home you originally wanted.

 

I recommend to include BrokersMLS access on my web site in the search for the perfect neighborhood .  With BrokersMLS access on my site you can pull up neighborhood summaries and demographics in addition to prices and comps (what similar property was sold for).

Those who would prefer to live in certain district or within a close proximity to work can search for homes that fit those specific parameters.  With BrokersMLS access you can even find average age of people in the community, income level, reports on school performance , crime statistics, housing inventory .  The information on school is particularly useful giving details about class sizes, student to teacher rations, special programs, even the number of commuters. The school has available for student.

Whether you are thinking of buying, selling or financing real estate,
I'd love to hear from you!

Elena Roud 

Your Personal  Oahu Real Estate Consultant for Life!

 

 

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