DECEMBER RECAP – MEDIAN HOMES IN OAHU REMAIN STABLE
As a recap for the whole 2018 market, the number of sales declined from one year ago and the median price paid for a single family home increased by 4.6 percent, while the median condominium price rose by 3.7 from 2017. Median prices for both single-family homes and condominiums set new records in 2018, the median price for condominiums hit of $435,000 while for a single family home reached a record of $812,500 in September.
While sales slowed and inventory of active listings increased in the last few months of 2018, December home prices remained very stable” said Darryl Macha, 2018 of the Honolulu Board of Realtors. “ We began to see a shift in the market during the last quarter of the year as 2019 begins, that trends point toward a more balanced market for buyers and sellers. According to the analysis conducted by the Board, using data collected from its computerized Multiple Listing Service (MLS system) the statistics are:
With the increased inventory in both single and family homes and condominiums, well qualified buyers may have options to consider. While current mortgage rates are still relatively low, they are anticipated to rise this year, so those ‘on the fence’ may want to consider purchasing sooner rather than later.”
BUYING & SELLING HOMES IN HAWAII 2019
BUYING
Buying a home is one of the most important financial decisions a person will make. Deciding to buy a home comes down to individual circumstances. Are you starting a family? Do you have a steady job with prospects of advancement? The advice of an expert can be helpful, here at Team Lally, everyone is equipt of the latest updates of the market and can give you advices when is the best time to buy while guiding you all the way through the process.
An important key objective includes having enough money for a deposit, getting pre-approved and checking your credit score. Hiring a trusted real estate buyer’s agent or a team with years of expertise is the best decision you can do. Over the years, Hawaii has grown into one of the most desirable destination in the country. Its beaches and beauty attract both tourists and international residents from all over the world.
SELLING
There are times when you feel that your home no longer matches your lifestyle, whether it’s for an employment or being deployed, upsizing or downsizing, you might always reconsider selling your home. In Hawaii, there is a large amount of buying demand. A lot of tourists fall in love with the island and would like to own a piece of paradise. Here at Team Lally, we have experts of the whole islands and where to find these buyers. If you are considering about selling, once you put your house up for sale, you should start making preparations to declutter, pack, clean and if necessary paint. Also, do not forget to complete any half finished remodeling and repairs.
WHEN IS THE BEST TIME?
Bottom line is, the best time is always NOW. With the market always hot on the first month of the year, people always want a brand new change with their lifestyle weather it is buying a new home or selling. Here at Team Lally, we understand the market and can show you the properties that matches your lifestyle and offer the best living that Hawaii has to offer.
If you are curious to know about current market conditions in specific neighborhoods, we are more than happy to sit down with you and discuss options for buying a home. Please call Team Lally at 799-9596 to schedule an obligation free consultation with one of our listing specialists. You may also call 234-4421 to schedule a consultation with one of our buyer specialists.