Leon Mosher, R, CRS, ABR, CHMS, CNE, SRS, RB-20948
Leon@KailuaRealEstate.com (808) 220-4612   
Oahu Real Estate Market Update
  • Oahu Real Estate Market Update


Going into the holidays, record prices, demand, still high

As 2014 winds down, the median price for a single-family home shows no sign of dropping off as Oahu sales reached another record high.

The Honolulu Board of REALTORS® notes that sales volume in November was down, meaning a fewer number of homes closed, as compared with November 2013. But interesting to note, there was a higher volume of high-end sales, which may explain the significant jump in prices — shattering the $700,000 mark at $719,500.

With Jack Frost nipping at their noses, the holiday home-buying season on the mainland tends to slow, but this is not typically the case for Hawaii real estate activity, according to Patti Nakagawa, REALTOR®, Branch Manager and Vice President at Coldwell Banker Pacific Properties.

“December normally has a lower level of escrows, listings taken and closings compared to other months,” Nakagawa says. “People are generally busier during the holidays with shopping and activities. However, we often see cash offers in December with short escrows to close before the end of the year. Homes for sale look dressed up during the holidays, with lights and décor, creating a feeling of festivity.”

Kalama Kim, REALTOR® and Branch Manager at Coldwell Banker Pacific Properties, agrees. He says it’s a myth that nobody buys during the holiday season.

“Last December, there were 418 pending home sales and 518 pending condo sales,” states Kim. “Less buyers to compete with when making an offer allows the buyer to have more leverage in negotiating offer terms and price. Interest rates have also decreased again making it more attractive for buyers to find a home and lock in their low interest rate to save money.”

“Sellers who list in December will have a head start before the many sellers who are waiting until the beginning of the year to list,” says Nakagawa.

Sales of Single Family Homes and Condos | November 2014

The number of listings that closed in November as compared to a year ago is down for both single-family homes and condos. Down 24% in the single-family homes segment — from 296 in November of 2013 to 225 last month, and down 10% in the condo segment — from 407 to 363.

But according to the Honolulu Board of REALTORS®, while demand for homes continues to outpace current inventory levels, the inventory of homes selling for $550,000 or less has dwindled dramatically. Indeed, 171 of the 225 single-family homes that sold in November were priced above $550,000 — and 56 of those went for $1 million or more.

Median Sales Price of Single Family Homes and Condos | November 2014


It is the prices, again, making headlines this month. Single-family home prices not only finally broke the $700,000 mark; they hit $719,500 —significantly up from last November’s median of $684,000. Condo prices have been steadier this year, with the high of $360,000 in June. In November, the median price of a condo on Oahu was $343,000 — up 3.9% from last year’s $330,000.

How are the year-to-date median prices trending? In 2013, the median sale price of a single-family home was $650,000 and a condo was $332,000. Year-to-date numbers, with one month to go are $675,000 and $350,000 respectively — on track for another record year!


This month’s hottest markets include neighborhoods where sellers received 100% (or more) of their original asking price. Note: Makiki-Moiliili made both lists!

Single-family hot markets include:

  • Ala Moana-Kakaako: 100%
  • Kalihi-Palama: 105.9%
  • Makiki-Moiliili: 109.1%

Hot condo markets include:

  • Ewa Plain: 100%
  • Hawaii Kai: 101.9%
  • Makiki-Moiliili: 100%
  • Moanalua-Salt Lake: 100.7%

Neighborhoods with median sales prices $1 million and up deserve to be called out as well as being hot!

  • Aina Haina-Kuliouou: $2,679,000
  • Hawaii Kai: $1,000,000
  • Makiki-Moiliili: $1,200,000
  • North Shore: $1,030,000
  • Waialae-Kahala: $1,984,000

Aina Haina’s MSP of $2,679,000 is a two-year high, as is Makiki-Moiliili’s median price for a condo of $375,000 and Waikiki’s condo MSP of $365,000.

When the time comes for you to make your next move, I'd be happy to help!  Hope you all had a Merry Christmas, and sending best wishes to you and your Ohana for a Happy & Prosperous New Year, filled with Aloha!!!

Thanks & Aloha, Leon


Home Page | Property Search | About Me | Open House Gallery | What's My Home Worth? | Testimonials | Buyers | Sellers | Free Market Update | Retail & Commercial | Area Info | Sign-Up | Buyers | Buyers Request | Area Info | Buyers Request | Mortgage Information | Dream Home Finder | Free Real Estate Reports | Sellers Request | Dream Home Finder | Community Links | School Links | Blog | Community Links | School Links | Weather | Request Info | Home Buying Info | Helpful Links | Weather | Home Buying Info | 15 Reasons Why I Should Be Your Real Estate Agent | Additional Real Estate Info | Different Types Of Real Estate Home Loans | For Sale By Owner Real Estate Info | Free E-mail Property Updates | Free Real Estate Newsletter | General Request | Home Gardening Info | Home Improvement | Home Moving Assistance | How Much Real Estate Can You Afford? | Just For Kids | My Real Estate Link Partners | Real Estate And Mortgage Glossary | Real Estate Mortgage Programs | Real Estate Refinancing Information | Real Estate Tax Info | Selecting Your Next Home | Tourism And Travel | Why Select Me To Help You Sell Real Estate? | Why Select Me To Represent You When Buying Your Next Home? | Real Estate Mortgage Calculators | Real Estate And Consumer Info | Real Estate And Community Bulletin Board | Sign-Up | Guestbook | Kailua Condos & Townhouses | Kailua Links | Black Point Real Estate | I Love Kailua Town Party!!! | Portlock Real Estate | Nuuanu Real Estate | Ewa Real Estate | 1011 Mokulua Drive - Walk to Lanikai Beach... | Oahu Real Estate Market Update | Oahu Property Search | Property Search (East Oahu - Land) | Property Search (East Oahu - Commercial) | Property Search (East Oahu - Multi Family) | Property Search (East Oahu - Residential Sold) | Property Search (East Oahu - Multi-Family Sold) | Property Search (East Oahu - Land Sold) | Property Search (East Oahu - Commercial Sold) | Ka Malanai in Kailua, New Condos/Condominium Development in Kailua! | My Listings | Kailua Listings
Site Map | E-Mail


Coldwell Banker Pacific Properties
970 N. Kalaheo Ave. Ste. C-215 • Kailua, HI 96734
Leon@KailuaRealEstate.com (808) 220-4612 •