KAPOLEI / MAKAKILO - SINGLE FAMILY HOME END OF APRIL MARKET UPDATE
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ANALYSIS
The Month’s Supply of Inventory is a key indicator of market conditions, currently standing at 3.88. This figure represents the number of months it would take to sell all existing inventory at the current sales pace. A lower month’s supply indicates a seller's market, while a higher month’s supply suggests a buyer's market.
The Median Days Homes are On the Market at 51 days is a reflection of how quickly properties are selling in your area. A lower number of days on the market typically indicates high demand and strong buyer interest.
The Sold to List Price Percentage of 99.8% suggests that homes are selling very close to their listing price, indicating a competitive market where buyers are willing to pay close to asking price.
Lastly, the Median Sold Price of $1,160,000 gives you an idea of the average selling price in your area. This figure can help you determine a competitive listing price for your property.
Overall, these metrics paint a picture of a market with low inventory, high demand, quick sales, and strong selling prices. As a Seller, this data suggests that now may be a favorable time to list your property, as you are likely to attract serious buyers and achieve a competitive selling price.
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