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Oahu Market Report for July

Oahu Market Report for July

August 24, 2020 10:36 pm

“We are seeing signs of increased activity driven by eager buyers looking to take advantage of
record-low interest rates coupled with sellers who are slowly wading back in to put their
properties on the market,” said Tricia Nekota, president, Honolulu Board of REALTORS®.
“This real estate activity indicates confidence in our local housing market and contributes to
the recovery of Hawai‘i’s economy.”
Despite a 3.0% slip in sales for single-family homes compared to this time last year, sales of
single-family homes surpassed the average monthly sales for 2019 by 15.3% and marked a
19.5% increase compared to June. Sales of homes in the $700,000 to $899,999 range were up
Bennet Group Strategic Communications, 2020
19.4%, but homes in the $600,000 to $699,999 range saw a 26.5% decrease in sales. The
demand for single-family homes remains high with properties spending a near record lowmedian of 13 days on the market.
Condo sales dropped 17.0% compared to last July, while month-over-month sales activity
continues on an upward trajectory with a 36.5% increase in sales compared to June 2020.
Overall, there was a decline in sales volumes for condos at most price ranges, except for
condos in the $400,000 to $499,999 price range, which marked a 20.7% uptick compared to
this time last year.
New listings for single-family homes and condos were down 18.8% and 15.6% respectively;
however, compared to last month, new listings for single-family homes and condos are up
7.7% and 9.9% respectively.
“With low inventory and continued declines in new listings, REALTORS® serve as a trusted
partner to help buyers navigate this highly competitive market, where many properties are
experiencing multiple offers that are well above the asking price,” added Nekota.
“REALTORS® also work closely with sellers to manage the high demand and multiple offers.”

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“

I just wanted to pass along high praise and appreciation for your Realtor, Eric Olson. He helped me to sell a condo last year and just closed on a house that my family and I are thrilled about! Eric was friendly, knowledgeable, and accessible throughout the process and a pleasure to work with. Good all around experience with Eric and Carvill Sotheby’s.

- Honolulu Home Seller

“

“Patty Bell is the best realtor we’ve ever dealt with…..calm, professional, gets things done with ease…..even when it takes overcoming obstacles. We have used Patty for 3 transactions over the years, and she is consistently outstanding!”

- Kailua Home Seller

“

“Scott, our faith in your performance has easily been confirmed by your results. Thank you to each person involved. I have been in the Homebuilding Industry for 12+ years and, honestly, never seen the speed and quality of the results you have provided for us.”

- Kailua Home Seller

“

“It’s been a pleasure working with Kelly and Scott, who are experienced, professional, honest, and at the same time, friendly. I have worked with a number of realtors on different transactions, in different cities, and I find them outstanding.”
- Kailua Home Seller

“

“I wish to commend Nancy Young-Vieira on the manner in which she handled the recent sale of our Wahiawa home. We were impressed by her attention to detail and her knowledge of the market during these present times. She is professional in every way and walked us through every step of the process. Thank you for having such a well seasoned and pleasant agent as Nancy.”

Wahiawa Home Seller
-

“

John Schamber recently acted as our agent to market and sell our architecturally signficant home in Honolulu. John was great during the sales process-the utmost professional, granular, and balanced. We soon had three offers on the property and he navigated the transaction to a smooth closing. We wholeheartedly recommend John as an agent.

- Honolulu Home Seller

“

“We found Maureen O’ Guin an absolute pleasure to work with. I don’t think we could have found a better realtor for us. She listened to us carefully regarding what we were looking for in a house, and quickly identified properties that fit our specifications.”

- Honolulu Home Buyer

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970 N Kalaheo Ave Suite A100
Kailua, Hawaii 96734

Phone

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Email

info@carvillsir.com

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