HI Real Estate News Now! 5MAY2021

A low unhappy Aloha Thursday.

I hope you guys had a great father's day.

So my dad some doughnuts, pretty sure he liked him.

And we are going to be off to the weekend

prior to 4th of July.

I'm gonna be prepping for it's one of my favorite

holidays. So let's jump right into the past week numbers

and you know what listings are down guys.

I don't know if any of you experienced that with

some of the competition on the homes of this past

week, but this is the largest decline of listings that

we've seen week over week and for sure over a

month. So we are down roughly 12%.

The number of pennies very negligible.

If nothing at all, it's like 120.0% sold now are

up by just under 6%.

So there is more homes that went off the market

then came on, Number of rentals is down by just

under 9%.

And if you are in the rental market it doesn't

directly really to the purchasing market whatsoever.

But I will tell you that from what I'm hearing,

the rental market is just as competitive as the purchasing

market right now.

It is a little bit more difficult to find what

you're looking for in a rental and you are working

against other applicants as well.

So I would suggest that you start if you are

looking potentially looking for a rental start earlier rather than

later. I know PCS season is right around the corner.

We're kind of in it right now.

Um so I would only imagine that there's going to

be more competition.

So here we go for a weekly real talk.

We are looking at the top five markets for 2021.

Specifically here we're looking at single family homes, naturally have

a beach is leading the way with the number of

new list genes that lots of turnover in L.

A. And it's for several different reasons.

If you start looking at the demographics, you'll know what

I mean there.

Um But either way, lots of new listings have come

onto the market this year And their median sales price

is right around 810,000.

That's the sales price once again.

And then if you jump all the way to the

right, you got Kyla.

Kyla has been consistently one of the hottest markets all

around like price point.

Um Number of souls, everything.

Their median sales prices sitting just over 1.4 million.

I believe.

That's 1.406 million.

Absolutely insane.

If we're having this conversation last about a year ago,

it would be six figures below that.

For sure.

No, it's really interesting here is you see diamond had

right there in the middle.

So diamond had is a very prestigious part of the

island and they're even below Kyla.

Their median sales price is sitting right around its under

1.4. It's right around 1.38.

So perhaps if you're weighing Kyla or right outside of

town, if you're waiting those two options, you might get

a better bang for your buck in town right outside

of town, time and time.

Now let's not leave condos and town homes behind.

Normally the condo and town hall market tend to trail

the single family home market.

Normally Not necessarily speaking to that tune in this slide.

It's just comparing the same things that we compared in

the last slide.

So this is the number of new listings which are

homes that just that came onto the market throughout 2021

and their median sales price naturally Honolulu is leading the

way, especially in the number of listings because it's that

dancer area they have handles, they have high prices, they

have a lot of things anyways.

Um For that reason though I would also take that

medium sales price with a grain of salt.

There is a broad range of condos and town homes

that are in the town area.

Do you take a look at a couple in a

beach? Those are too hot areas as well.

You can normally get a little bit more bang for

your buck in those two areas.

They come with you know double walls, some have central

A. C.

If not split A C.

There's just a couple other luxuries that come with the

homes that are typically in that area.

Melanie well established area and so is a is a

solid neighborhood now moving on into this light so this

past week and a half I think it was like

a week and a half ago.

Mr paul Brubaker, this is not my sides, like this

is from his presentation, he is amazing economist.

Um he's definitely built a reputation for himself.

He puts on a brief that basically describes the real

estate market and where he sees it today.

This is one of, I'm sure 100 some odd sides

that he has had and this is pulled from all

the resources that are down there at the bottom of

the page if you'd like to reflect on that.

So bottom line, This goes back to 2012 and we

are looking at the price points of single family homes

and condos and condos are fluctuating a little bit below

what the perspective means would be if you will, and

single family homes have deviated further above what we would

anticipate, it should be.

So single family homes have appreciated roughly like 4% annually

and it's been roughly 55.1%.

Like I said though, the condos are fought to a

below what I take away from that.

It depends what your objective is.

Once again with real estate, with purchasing them in this

residential market.

If you are maybe looking for a better deal in

like savings on something, I would maybe geared towards that

underwear town home area.

If you are looking to maybe sell and you have

a single family home, definitely give me a call.

I am sure I have a buyer video.

It's just more rigorous of a market.

It's definitely a seller's market out there, take care, have

a great weekend audio.

HI Real Estate News Now! 5MAY2021

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