Spring doesn’t arrive until later this month.  That’s when many folks start thinking about real estate in preparation for moves during the summer.  But this year, you might want to consider jumping in early, before the crowd, since the conditions for a home sale or purchase are quite favorable.

The latest statistics released by the Honolulu Board of Realtors, show continuing positive trends—more home sales activity, stable prices and low housing inventory. 

What does that mean to you?

If you put your home on the market, and you price it right, it could sell quickly.  Many homes in most price ranges are attracting a lot of attention, crowded Open Houses, and multiple offers.  This attractive climate may not last long as more people catch on to the trend and put their homes on the market.  That typically happens every spring as things warm up.

If you’re in the market for a home, there are many reasons why diving in now could be a good decision.  Interest rates remain quite low, and it’s not certain when they’ll move higher.  Many homes are priced to sell.  And, the Extended and Expanded Home Buyers Tax Credit could provide you with an extra dollar incentive, but you need to move quickly and be in escrow by April 30, 2010. 

Maybe you should take the plunge and maybe you shouldn’t.  But to know that, get some expert advice.  Learn more about the market than what’s apparent on the surface. 

We can provide you with a depth of information to align with your goals and your unique situation.  With more information, you’ll make the decision that’s right for you.  A quick call to 597-5550 or e-mail could help you enjoy a well executed and smooth dive. 

For Oahu overall, there was a 29.1% increase in single family home sales in February, 2010 year-to-date compared to the same period in 2009. Condominium sales were up 47.6%   The median sales price of single family homes increased 7.3% compared to a year ago:  $590,000 versus $550,000 in February, 2009 year-to-date.  For condominiums, prices fell a mere 0.1%.  Slight variations in prices are occurring each month, but the overall trend is quite stable.  Oahu is comprised of many neighborhoods, each performing somewhat differently than the norm.  Check the chart to review statistics for your neighborhood of interest.

The median number of days on the market in February, 2010 was only 38 for single family homes and 55 for condominiums.   In February of 2009, this was 69 days for single family homes and 70 days for condominiums.  Many properties are moving quickly.

Total inventory was only 1,221 for single family homes and 1,693 for condominiums.  Homes available for sale are down over 34% compared to this time last year.  There are some great homes on the market, but buyers are looking for more selection.  

At Coldwell Banker Pacific Properties, our mission is to provide you with a real estate experience that
exceeds your expectations.  Whatever the market, we deliver.   

For more information, visit cbpacific.com