KANEOHE REAL ESTATE - END OF APRIL SINGLE FAMILY HOME MARKET UPDATE
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ANALYSIS
First, let's look at the Months Supply of Inventory, which currently stands at 2.45. This indicates that there is a low inventory of homes available for sale, which typically results in increased competition among buyers.
The Median Days Homes are On the Market is 61, suggesting that homes are selling relatively quickly. This is a positive sign for sellers as it indicates high demand in the market.
The Sold to List Price Percentage is at an impressive 99.9%, indicating that homes are selling very close to their listing price. This is a strong indicator of a seller's market, where sellers have more negotiating power.
Lastly, the Median Sold Price of $1,300,000 is a reflection of the current market value of homes in the area. Sellers can use this data to set an appropriate listing price that aligns with market conditions.
Overall, the low inventory levels, quick sales, high list price percentages, and strong median sold price suggest that now is a favorable time to sell a property. By understanding these correlations, sellers can make informed decisions to maximize their return on investment.
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