The Oahu real estate market continues to be driven by low interest rates and low inventory levels.
Year over year, the median price of single family homes rose 7.7% while prices for condominiums stayed flat. This month, unit sales of single family homes were flat and condominium sales slipped 8.1%
Click here to download the complete May 2012 Oahu Real Estate Report
Is it a Buyers or Seller's Market?
To answer this common question, let’s take a look at the months of remaining inventory (MORI). Current MORI is low with single family homes at 4.1 months and condos at 4.6 months.
At around 4 months of MORI, we seem to be entering a sellers market.
But no matter who the market favors, there are unique opportunities for both buyers and sellers due to historically low interest rates.