KANEOHE REAL ESTATE – SINGLE FAMILY HOME MARKET UPDATE
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ANALYSIS
The Months Supply of Inventory is a key indicator of the balance between supply and demand in the market. With a low Months Supply of Inventory of 2.33, it indicates a seller’s market where there are more buyers than available properties. This can potentially lead to quicker sales and higher prices for sellers.
The Median Days Homes are On the Market is another important metric to consider. With a relatively low median of 33 days, it indicates that properties are selling quickly in this market. This could be attributed to high demand from buyers and competitive pricing strategies by sellers.
The Sold to List Price Percentage of 99.7% is a positive sign for sellers, indicating that properties are typically selling very close to their asking price. This shows that sellers are pricing their homes effectively and that buyers are willing to pay close to the listed price.
Finally, the Median Sold Price of $1,350,000 reflects the average price at which properties are selling in the market. This metric can help sellers gauge the value of their own property and set a competitive asking price to attract potential buyers.
Overall, the combination of a low Months Supply of Inventory, decreasing trend in Months of Inventory, low Median Days on Market, high Sold to List Price Percentage, and a healthy Median Sold Price all point towards a favorable market for sellers. By understanding and leveraging these real estate metrics, sellers can make informed decisions to maximize their profits and successfully sell their property.
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