1st Quarter 2010 – Positive Signs in Oahu Real Estate

Prudential Locations Hawaii

Oahu real estate continues to show positive signs in the first quarter of 2010. The number of sales for single-family homes was up 36.7% from 436 to 596 while condominium sales grew by 48.7% from 552 in the first quarter of 2009 to 821 the same time this year.

Several Oahu areas saw more than 90% increases in the number of sales including; Kaneohe 103%, North Shore 100% and Pearl City-Aiea 90% for single-family homes and Leeward 106.3%, Makiki 93.5% and Diamond Head-Kahala 92.3% for condominiums.

The median price for single-family homes increased by 4.8% from $567,500 to $595,000 and the median price for condominiums
grew 2.3% from $295,244 to $302,000.

45 Single Family neighborhoods and 13 condominium neighborhoods saw an increase in median price in this last 12 month period.

Here are the Top 5 Performing Neighborhoods that experienced the highest median price appreciation.

Single Family Homes:
1. Lanikai in Kailua +37.7%
2. Waimalu in Pearl City/Aiea +34.9%
3. Lilipuna in Kaneohe +26%
4. Woodlawn in Manoa +21.6%
5. Lower Nuuanu in Makiki +17.4%

1. Kapalama – Kalihi +53.3%
2. McCully – Nuuanu/Makiki +15.6%
3. Lower Punchbowl – Nuuanu/Makiki +9.5%
4. Waialae Nui Valley – Waialae/Kahala +8.6%
5. St. Louis – Oahu Other +8.2%

Homebuyer Tax Credit Ending April 30th:
The government’s $8,000 first-time and $6,500 repeat homebuyer tax credits are ending this month, but it’s not too late to qualify for it.

Prudential Locations is Hawaii’s largest locally owned and operated real estate company, featuring advanced Hawaii real estate search and exclusive Hawaii foreclosure listings. Visit us online at http://www.prudentiallocations.com

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One Response to “ 1st Quarter 2010 – Positive Signs in Oahu Real Estate ”

  1. Hello, great information! The real estate markets in Canada are still booming so if anyone is looking to capitalize, now is the time. Whether it be a house for yourself or an investment, keep your options open. Good luck to everyone! Thanks.

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