The Oahu housing statistics have been released by the Honolulu Board of REALTORS for the month of April 2012.  For Single Family Homes, 217 homes were sold (a difference of -5.2% from a year ago) with a Median Sales Price of $600,000 (a difference of +2.6% from a year ago).  For Condominiums, 343 units were sold (a difference of -9.5% from a year ago) with a Median Sales Price of $319,000 (a difference of +4.6% from a year ago).

Housing inventory has started to decrease though, and if it continues for the next few months could lead to another change to the housing market.  With limited inventory and an increase in demand during the anticipated summer months, home prices may continue increase.  Historically low mortgage interest rates will continue to aid home buyers.

I am seeing an increase in activity in certain neighborhoods.  Homes are receiving multiple offers early on.  Be persistent in your search for a home, in time, you will be rewarded.

The market has changed from just a few years ago, and will continue to change.  This is the new normal.   The best time to buy or sell a home is a personal decision.  Only you will know when it’s your time.

Housing information gathered from MLS information during the cited months from the Honolulu Board of REALTORS