ALA MOANA / KAKA’AKO – END OF MARCH CONDO MARKET UPDATE
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ANALYSIS
First, let’s look at the Months Supply of Inventory, which is currently at 7.73. This metric indicates the number of months it would take to sell all existing inventory at the current sales pace. A lower number typically signifies a seller’s market, while a higher number suggests a buyer’s market.
The Median Days Homes are On the Market is 79 days, which gives us an idea of how quickly homes are selling in the current market. A lower number may indicate a more competitive market, while a higher number could suggest a slower pace of sales.
The Sold to List Price Percentage is at 97.4%, which means that homes are typically selling very close to their listing price. This can provide reassurance to sellers that they are pricing their homes effectively and can give buyers an idea of how much negotiating power they may have.
Lastly, the Median Sold Price of $800,000 gives us an idea of the average price at which homes are selling in the current market. This can be useful for both buyers and sellers in determining fair market value and setting realistic expectations.
Lastly, the Median Sold Price of $800,000 gives us an idea of the average price at which homes are selling in the current market. This can be useful for both buyers and sellers in determining fair market value and setting realistic expectations.
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.
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