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Aloha,
Here we are at the beginning of a fresh, bright new year. It’s great to look forward, but it’s also a good time to take a quick glance back at 2011. So our email today provides highlights from the most recent Honolulu Board of Realtors’ (HBR) market statistics report.
One stat that jumped out at us was the dramatic improvement in the housing affordability index. On a full-year basis, comparing 2011 to 2010, it improved 10.5% for single family homes and 9.2% for condominiums. This measure compares median household income with home prices and interest rates. An improvement in the index means that more people can afford to buy homes. Let us know if you’d like to see that chart.
Also interesting in the statistics is the extraordinarily low number of properties available for purchase. As of December 31, 2011, there were fewer than 3,000 total properties listed on the HBR multiple listing service. Compare that to more than 5,000 properties in 2006.
Just these two statistics signal an opportune time to put your home on the market. Give me a call or respond to this email and let’s discuss your personal situation and market statistics in depth. There are some other good reasons why you may decide to list your home as quickly as possible.
My best wishes for a great 2012!
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Sales of Single Family Homes and Condos as of December 31, 2011. |
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In December 2011, sales of single family homes were down 14.1% compared to December 2010. Sales of condominiums were down 6.5%. On a full-year basis, comparing 2011 to 2010, sales of single family homes were down a scant 2.7% and condominium sales were up 1.3%. As you can see, the more you dig into the numbers, the more your conclusions may change. Let’s talk about your individual situation. | |
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Median Sales Price of Single Family Homes and Condos as of December 31, 2011. |
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The median sales price for single family homes increased 3.4% in December 2011 compared to December 2010. The median sales price for condominiums decreased 5.0% compared to last December.
By quickly reviewing the chart on the left, you can see the stability of Oahu housing prices over time. Each neighborhood is different, so please check with us for information about your home and neighborhoods of interest.
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©2012 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Coldwell Banker Pacific Properties Office Is Owned And Operated by NRT LLC. |
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