January 17, 2006

Next up: Honolulu. This market has now popped.


The hits keep coming. And to think, it can get worse than this. Amazing. Thanks to a HP reader for the leads today

Hawaii home market cools Median price down as number of listings on Oahu surges

In November, the median price for a home on Oahu was $418,000 -- well below a peak of $569,000 in August and 8 percent below the year-ago median -- according to DataQuick, a La Jolla (San Diego County) firm that tracks real estate markets throughout the country. Its surveys are based on filings with county recorders' offices and usually reflect sales initiated 30 to 60 days earlier.

Last month, the Honolulu Board of Realtors reported a nearly 25 percent drop in the number of single-family houses sold at the same time the supply of listings surged 47 percent.

7 comments:

Wes D said...

Good - after spending 4 days there in 2003 I was bored stiff and couldn't wait to get home. I cannot imagine why anyone would want to live there except for those with family in the area. The prices are ridiculously high for everything from milk to tires.

Anonymous said...

I think the fact that this post only generated the one comment above really says something about Honolulu...

Anonymous said...

I spent a week in Wikiki back in 2004, what a dump. Walk down the street at 2 am and its nothing but drunks, pimps, hoes, cops, and homeless people. The beach is non-existent.

Hawaii was popular with the Marylin Monroe generation, but younger people are finding much nicer places to go.

Anonymous said...

that sounds like a good description of CA too.

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john said...

Oh my Gosh, what a crock of bull!! The information about the median house prices on Oahu over the last year is totally inaccurate. Not even close. Obviously someone just made up those figures for effect. As an update, May '06 median prices just hit another record high of $668,300 for single family homes on Oahu. Too bad some people try to make a bunch of hype out of lies.

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