Aug. 24, 2009
July Oahu Real Estate Market Update
Oahu saw a 5.6% increase in the number of sales for July 2009 compared to July of 2008 for single family homes. The median property price dropped by 4% for the same time periods. Although the number of sales were better prices continue to fall, but not as bad as previous months.
| Oahu Home Sales July 2008 vs. 2009 | |||||
| # Sales & Median $$ | |||||
| Neighborhood | 2008 | 2009 | 2008 2009 | ||
| Honolulu | 14 | 17 | $ 830,000 | $ 712,500 | |
| Waialae-Kahala | 14 | 7 | $1,300,000 | $ 1,500,000 | |
| Kapahulu-Diamond Head | 12 | 18 | $ 780,000 | $ 743,500 | |
| Hawaii Kai | 16 | 20 | $ 868,000 | $ 750,000 | |
| Aina Haina-Kuliouou | 5 | 2 | $ 885,000 | $ 863,000 | |
| Kailua-Waimanalo | 24 | 27 | $ 785,000 | $ 710,000 | |
| Kaneohe | 17 | 14 | $ 705,500 | $ 629,000 | |
| Moanalua-Kalihi | 12 | 8 | $ 632,500 | $ 552,500 | |
| North Shore | 10 | 6 | $730,000 | $ 684,500 | |
| Wahiawa | 8 | 5 | $ 442,500 | $ 361,000 | |
| Mililani | 21 | 20 | $ 595,000 | $ 585,000 | |
| Makaha-Nanakuli | 8 | 17 | $ 392,500 | $ 270,000 | |
| Ewa-Kapolei-Ko Olina | 45 | 51 | $ 455,000 | $ 428,000 | |
| Makakilo | 5 | 12 | $ 500,000 | $ 510,000 | |
| Waipahu | 15 | 18 | $ 565,000 | $ 514,300 | |
| Pearl City-Aiea | 12 | 20 | $ 595,000 | $ 562,500 | |
The number of condo sales dropped by 10.4% in July of 2009 compared to July of 2008. The prices were down 5.4% compared to last June. Unlike single family market, some areas actually went up in price in markets like Waikiki, Hawaii Kai, and Kalihi areas. This month was definitely encouraging compared to earlier months in the year.
| Oahu Condo Sales July 2008 vs. 2009 | |||||
| # Sales & Median $$ | |||||
| Neighborhood | 2008 | 2009 | 2008 2009 | ||
| Waikiki | 70 | 61 | $ 222,500 | $ 300,000 | |
| Downtown -Nuuanu | 29 | 21 | $ 491,000 | $ 345,000 | |
| Kapahulu-Kuliouou | 15 | 8 | $ 405,000 | $ 402,000 | |
| Hawaii Kai | 16 | 17 | $ 498,000 | $ 512,000 | |
| Maikiki - Moiliili | 43 | 44 | $ 338,000 | $ 289,500 | |
| Kailua-Waimanalo | 4 | 4 | $ 348,000 | $ 307,500 | |
| Kaneohe | 12 | 18 | $ 406,000 | $ 365,000 | |
| Moanalua-Salt Lake | 21 | 14 | $ 319,900 | $ 297,500 | |
| North Shore | 3 | 2 | $ 410,000 | $ 282,500 | |
| Wahiawa | 3 | 1 | $ 250,000 | $ 138,000 | |
| Mililani | 21 | 24 | $ 325,000 | $ 275,500 | |
| Makaha-Nanakuli | 3 | 9 | $ 154,000 | $ 130,000 | |
| Ewa-Kapolei-Ko Olina | 24 | 22 | $ 342,500 | $ 287,500 | |
| Makakilo | 8 | 8 | $ 334,000 | $ 227,500 | |
| Waipahu | 26 | 12 | $ 315,000 | $306,500 | |
| Pearl City-Aiea | 32 | 22 | $ 278,000 | $ 299,500 | |
Hawaii Realty International