Kaneohe Real Estate Sales Activity for September 2008

The Kaneohe communities (zip code of 96744 and some connecting neighborhoods) have seen changes in the real estate market.

Single Family homes sales have softened. Average sales prices of single family homes year to date are up slightly. In the month of September we saw a slight dip that was mostly attributed to an increase in sales volume of lower priced homes. Sales volume saw a bump in September, but year to date is still down form the 2007 levels. Inventory levels are high with more than a years worth of inventory. If current conditions continue buyers will find sellers may be a little more negotiable.

Condo and townhouse prices are a little rosier. Inventory level has climbed to over a years worth in the Kaneohe area. Prices although year to date have seen stable, but with the inventory levels climbing we may see pricing pressure on the sellers. Buyers should be able to find room to negotiate on many of the condos for sale in the Kaneohe area.

Currently Active for Sale (as of 10/3/08):

• 215 Single Family Homes
• 116 Condos/ Townhouses

Currently in Escrow (as of 10/3/08):

• 32 Single Family Homes
• 22 Condos/ Townhouses

*These numbers were taken from the Honolulu Board of Realtors MLS system and are deemed to be accurate, but not guaranteed.

You can find out more about real estate in Hawaii at: www.HawaiiRandy.com

Or at: www.localism.com