Kailua homes sales prices may go higher

Looking at the detailed Oahu real estate statistics for the month of September for Kailua homes sales, prices may go higher.  The detailed data shows a huge 14% increase in the median sales price to $832,000 from September 2011.  At the same time, we have seen a dramatic drop in both the number days that a Kailua property is on the market and the number of new listings coming onto the market.  Clearly seeing the number of new listings drop by 40% with only 27 new listings coming onto the market in September shows that perhaps many potential sellers are holding back and perhaps one reason many be the anticipation of higher prices int he future.  The days on market shows the increase demand that is coming from Buyers to acquire Kailua real estate.  With average marketing time falling to just 19days which equates to a 34% drop in the number of days that it take to get a solid contract on a Kailua property.  We have seen number like this earlier this year across the island and we did see seen a year to date increase in median sales price which shows that the market is gaining momentum.  As Hawaii mortgage rates remain historically low, potential Buyers are becoming more eager to purchase Kailua real estate.  Lanikai real estate, Coconut Grove properties, and Beachside homes seem to be among the best sellers.

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Malia Meenderman is a Realtor and principal broker of Bonnebaker LLC. Born and Raised in Kailua, Oahu.    Say hi to Malia and let her help you find your dream home in Hawaii