June Oahu Market Update of Property Sales

There is some good news. Oahu saw a 9.5% increase in the number of sales for June 2009 compared to June of 2008 for single family homes. The median property price dropped by 9% for the same time periods. More buyers are starting to take advantage of the lower prices and historic low interest rates. If this keeps up it should stablize prices.

Oahu Home Sales June 2008 vs. 2009
	# Sales & Median $$
Neighborhood	2008	2009	2008                  2009
Honolulu	9	12	$ 494,000	$ 600,000
Waialae-Kahala	8	7	$1,445,400	$ 1,387,500
Kapahulu-Diamond Head	9	15	$ 790,000	$ 780,000
Hawaii Kai	15	15	$ 870,000	$ 750,000
Aina Haina-Kuliouou	3	3	$ 760,000	$ 1,246,500
Kailua-Waimanalo	32	20	$ 752,500	$ 712,500
Kaneohe	8	7	$ 644,000	$ 619,000
Moanalua-Kalihi	14	11	$ 494,000	$ 600,000
North Shore	2	7	$1,937,500	$ 873,000
Wahiawa	3	4	$ 352,500	$ 345,000
Mililani	28	17	$ 626,800	$ 570,000
Makaha-Nanakuli	12	18	$ 416,000	$ 282,000
Ewa-Kapolei-Ko Olina	44	49	$ 443,500	$ 4588,000
Makakilo	4	10	$ 690,000	$ 487,500
Waipahu	14	27	$ 577,500	$ 520,000
Pearl City-Aiea	17	12	$ 678,000	$ 555,000

The condo sales were not as good as the home sales.  The number of condo sales dropped by 17.5% in June of 2009 compared to June of 2008. The prices were down 5.3% compared to last June. Not as big a drecrease as single family homes.

Oahu Condo Sales June 2008 vs. 2009
	# Sales & Median $$
Neighborhood	2008	2009	2008                 2009
Waikiki	76	43	$ 300,000	$ 247,000
Downtown -Nuuanu	24	25	$ 468,000	$ 340,000
Kapahulu-Kuliouou	10	11	$ 406,000	$ 435,000
Hawaii Kai	13	19	$ 600,000	$ 426,000
Maikiki - Moiliili	54	41	$ 301,000	$ 320,000
Kailua-Waimanalo	10	10	$ 507,500	$ 392,500
Kaneohe	11	13	$ 398,000	$ 365,000
Moanalua-Salt Lake	17	13	$ 300,000	$ 247,000
North Shore	3	2	$ 300,000	$ 217,500
Wahiawa	0	0	$ 0	$ 0
Mililani	27	29	$ 365,000	$ 280,000
Makaha-Nanakuli	4	5	$ 161,000	$ 122,000
Ewa-Kapolei-Ko Olina	16	17	$ 281,200	$ 270,000
Makakilo	7	4	$ 302,000	$ 212,500
Waipahu	24	17	$ 282,800	$ 235,000
Pearl City-Aiea	27	20	$ 285,000	$ 283,500