Stability in 2011 Creates Possibilities in 2012
Compared to previous years, 2011 continued to be a stabilizing year for Oahu real estate. Let's take a closer look:
Sales: The single-family and condominium market saw minor fluctuations in sales from 2010, up 2.4% in the condominium market and down 3.2% in the single-family market
Median Price: Similarly median prices also saw relatively small changes, with the overall condominium median price down 1.6% and the overall single-family median price down 3.6%.
Days on Market (DOM): The DOM, or number of days a property is listed, before an offer is accepted. The median condominium DOM ended at 42 days and single family homes finished the year at just 36 days. Low DOM is an indication of a fast paced market and higher buyer demand.
Summary: The real estate market in 2011 has remained relatively flat with regard to sales and median price, which we expect to continue into 2012. Oahu's stable market conditions combined with low interest rates continue to create opportunities for buyers, investors and sellers alike.
Click Here to Download the Complete 2011 Oahu Market Recap Report