ALA MOANA / KAKA’AKO - END OF APRIL CONDO MARKET UPDATE
If you would like community news and real estate updates on a more consistent basis please feel free to follow us on our instagram: hookele_homes_hawaii
ANALYSIS
First, let's look at the Months Supply of Inventory, which currently stands at 8.87. This metric represents how long it would take for all the current homes on the market to be sold, given the current sales pace. A lower number indicates a seller's market, while a higher number signifies a buyer's market.
The Median Days Homes are On the Market, at 79 days, reveals how long a typical home stays listed before being sold. A lower number suggests a faster-moving market, potentially leading to competition among buyers.
The Sold to List Price Percentage, currently at 97%, reflects how close homes are selling to their asking prices. A higher percentage indicates a strong market where sellers are receiving offers close to their list prices.
Lastly, the Median Sold Price of $650,000 gives you an idea of the average price at which homes are selling in the current market. This can help you gauge affordability and value for your potential purchase.
Overall, these metrics paint a picture of a market with moderate inventory, homes selling fairly quickly, and close to their list prices, at a median price of $650,000. By understanding these correlations, you can navigate the real estate landscape with confidence and make well-informed decisions as a buyer.
Honestly, the data is showing a mixed bag and so doing a proper Comparative Market Analysis is key - the details of the particular building and area are very important and how they affect demand is different from block-to-block.
Let’s work together to make your real estate goals a reality! CONTACT US for a personalized consultation. 
