EAST HONOLULU - SINGLE FAMILY HOME MARKET END OF APRIL UPDATE
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ANALYSIS
First, let us look at Months Supply of Inventory, which is currently at 3.63, signifies the number of months it would take to sell all the homes on the market at the current pace of sales. A lower supply of inventory typically indicates a seller's market, where there is high demand for homes compared to the available supply.
The Median Days Homes are On the Market, at 53 days, reflects how long it takes for homes to sell once they are listed. A lower number of days on the market indicates a quicker sales process, which can be advantageous for sellers looking to sell their properties in a timely manner.
The Sold to List Price Percentage, currently at 97.4%, shows the average percentage at which homes are selling compared to their listing prices. A higher percentage indicates that homes are selling close to or above their listing prices, which is a positive indicator for sellers in terms of maximizing their returns.
Lastly, the Median Sold Price of $1,580,000 represents the middle point at which homes are selling in the market. This metric can give sellers an idea of the average selling price of homes in their area, helping them to set competitive listing prices.
Taken together, these metrics suggest a favorable market environment for sellers, characterized by low inventory levels, quick sales, high selling prices, and strong buyer demand. Sellers can leverage this information to make strategic decisions when listing their properties, ultimately maximizing their chances of a successful and profitable sale.
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