What You Can Own For Oahu’s New Median Price

Homes 122913-1Last week, we reported that the median price for Oahu’s homes and condos have reached record highs in 2013: $647,000 for single family homes and $330,000 for condominiums.

Median prices have climbed steadily over 2013, spurred by strong buyer demand, low interest rates and shrinking inventory.

“These forces have created a competitive market in which a record number of homes are being bid-up and selling for more than the asking price, steadily raising prices overall,” says Scott Higashi, EVP of sales at Prudential Locations.

The median price is an important measure of the health and direction of the market because it tells us the middle point of home sales. Half the single family homes sold on the island in 2013 have been above $647,000 and half have been under.

For both buyers and sellers, in a competitive market like today’s market, it is critical to stay on top of neighborhood trends and comparative sales.

For example, Higashi says, “At PrudentialLocations.com, we make it easy to stay up-to-the-minute on the market. With our Power Search, you can set up a personalized search with your price range, neighborhood of interest and more, and receive email updates – up to six times a day – with new listings, price changes and sold prices.

“We also have a free mobile app that shows you new listings as soon as they hit the market, including high-resolution pictures and open house dates and times,” he adds.

Homes 122913-2In addition, to keep up with the market, Higashi recommends working with an experienced REALTOR who is an expert in your neighborhood of choice. “It’s important you work with someone who has their thumb on the pulse of the neighborhood. As a buyer, you don’t want to get left behind. As a seller, you want to be sensitively priced to attract the best buyer pool.”

If owning a new home is on your list of New Year’s resolutions, here is a sample of what you will find across the island in this price range:

* Waikele. Privately located in Tropics, this two-story home has an open living area with vaulted ceilings and is great for entertaining. The master suite is downstairs. Home sits on a corner lot.

* Waialua. Located away from the congested North Shore traffic, this 5-bed, 3-bath house can be divided into separate 3/2 and 2/1 living quarters. Built in 1990 with hardwood bamboo floors, cathedral ceilings, perimeter walls and gates for security. CMU construction allows for a second story addition.

* Kailua. In the Enchanted Lake neighborhood, this two-story Kukilakila townhome has 2 bedrooms, a den and lots of light. It is recently painted and move in-ready.

* Mililani Mauka. Located at the end of a quiet road, this home has a spacious living room with vaulted ceiling, separate kitchen and dining areas, and a large master suite with walk-in closet, dual sinks and jacuzzi tub. Two-car garage, landscaped yard and Sentricon.

* Upper Pearl City. This remodeled single-story house has a spacious living area, open kitchen, laminated wood floors, and a new roof. A great home on flat land, with a yard in front. Friendly neighborhood, quiet location and clear air.

* Waimalu. This custom-built, tri-level home has 4 bedrooms and 3 full baths, a den, kitchen nook, dining area, family room, living room, two open lanais, and a large 2-car garage with storage. Conveniently located in the heart of Aiea, this home was upgraded in 2011 with granite countertops and laminate flooring. Freshly painted with brand new carpet.

* Ewa. This single level home in award-winning Ka Makana at Hoakalei is the 40.10 model. Ten-foot ceilings, huge kitchen, open floor plan, large master suite and den. Swim club just down the street. Dog park and guest parking at the back.

For more information on these properties or others in their neighborhoods, call Prudential Locations at (808) 377-4646. To download the mobile app, go to www.PrudentialLocations.com/mobile.

Locations Hawaii
Michael Marks
Sandwich Isles Realty
Kimo Smigielski, Broker-in-Charge
R, ABR, CRS, GRI, e-PRO
Hawaii Life Real Estate Brokers
Emily Garcia
Agent, REALTOR(A), RS-77391
Coldwell Banker
DAY-LUM Properties

Edith Crabb, RB-8195
Coldwell Banker
DAY-LUM Properties

Glenn Takase, RB-18547
Coldwell Banker
DAY-LUM Properties

Misti R. Tyrin, RS-75836
Coldwell Banker
DAY-LUM Properties

David L. Skeele, RB-12882
Kauai Landmark Realty
Phil Fudge, RB-18576
Claire Keaton, RS-73854
Coldwell Banker
DAY-LUM Properties

Shea Miyashiro, RS-64678
Coldwell Banker
DAY-LUM Properties

Atsuko Winston, RS-75899
Coldwell Banker
DAY-LUM Properties

Mark Skeele, RS-77005