[Draft] HI Real Estate News Now! 7APR2021

BH
by Brittany Hampton1 view·Updated Apr 8, 2021
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  1. happy Aloha Thursday.
  2. Everybody coming to you live.
  3. So we have our weekly update, and then we have
  4. just a short topic Looking at just the last couple
  5. weeks. HBR came out with their report the other day.
  6. So I have some of that stuff in there.
  7. HBR kind of little border Realtors me.
  8. All right, so next up, right away, we got our
  9. weekly stats.
  10. Guess what, guys?
  11. We've had an increase of new listings by 15% and
  12. we've been floating between about 240 up to 300 new
  13. listings of per week over the past month of March.
  14. So that's great news pending now is down by just
  15. under 11%.
  16. It's right around 10.5% and this has actually been a
  17. slow decline over the past three weeks.
  18. So we got a little bit more homes coming on
  19. the market and a little bit of less going into
  20. escrow, which means there might be a couple more options
  21. out there for you.
  22. Buyers, anyways, in the number sold that it's just a
  23. negligible increase.
  24. Very, very slight.
  25. Under 1% rentals.
  26. That's negligible again, and these have stayed pretty steady for
  27. the month of March.
  28. However, I will say, from my property manager counterpart, the
  29. rental market is just as aggressive as the buying market.
  30. So if you are planning to come to island PCs
  31. to island from my military folks, I do suggest that
  32. you guys start just as early.
  33. If you're planning to run, even if you are planning
  34. to buy the more time.
  35. If you're working with me, the more lead time that
  36. you can give me to help you purchase a home,
  37. the better, especially in this market.
  38. I just got one of my other buyers, an off
  39. market deal totally stoked from.
  40. So this is what I was talking about here.
  41. We're looking at the new listings compared to the number
  42. of sold listening.
  43. So how many new home spot on the market compared
  44. to how many are actually selling?
  45. And here we're looking at the past three months of
  46. January, February and March.
  47. We can see that March was a positive month, with
  48. more listings coming onto the market, and there has been
  49. an upward to direct trajectory of sold homes in its
  50. entirety. March had a 12.6% jump in new listings for
  51. single family homes and a much larger jump for condos.
  52. They had a 17.2% increase.
  53. So from here, I would hope that this would let
  54. up on the consistent sold price increases.
  55. Hopefully, it evens out a little bit.
  56. Even moving from February to March, there was a 3.5%
  57. increase in median sales price.
  58. So I guess we'll see come May if these if
  59. the number of supply has actually affected the price points
  60. here. So lastly, something that is a little bit interesting
  61. that the Honolulu border Realtors noted that there has been
  62. 100 and 17% of sales activity increase, Um, in the
  63. price points above 1.5 million 117% increase.
  64. So more buyers are entering that $1.5 million in above
  65. market. It almost seems as if everything has taken a
  66. major shift right on the affordability spectrum.
  67. Things are just moving on up.
  68. Um, so here I actually I just randomly put this
  69. in here.
  70. This is from the It's a List reports that so
  71. this is for nationwide housing market.
  72. The nation as a whole has seen of 15.6% list
  73. price increase and the number of its homes for sale
  74. homes that are on the market down by 52%.
  75. Here in the on Oahu, For the most part, we've
  76. been fluctuating around 40% decrease depending upon the weak, the
  77. month So on and so forth days on market proof,
  78. we are well below that 54.
  79. Out here on Oahu, you're going to be looking nine
  80. days or less for single family homes and, um, around
  81. 17 for the condos, and especially on a single family
  82. home side.
  83. That's where a lot of the competition is.
  84. So they are reviewing all offers at once for the
  85. most part, so that nine days may just be because
  86. that's when the sellers have chosen to review their offers.
  87. Now my question is, how long is all this going
  88. to last?
  89. So truly, I'm curious as well.
  90. There are several factors which are playing into this demanding
  91. market, which we have spoken about on collectively.
  92. All these videos, um, so playing into this demanding market
  93. all the way to the supplies of lumber itself.
  94. So just to even if you're thinking about building a
  95. home things are still extremely backed up.
  96. So if you can't find a house for sale, they're
  97. saying Okay, now a lot more people are wanting to
  98. maybe just construct a home and build it from growing
  99. up. But if the lumber supplies aren't there to build
  100. your home because that's on the back increase, what are
  101. we doing?
  102. Are we going to wait and watch the market?
  103. I'm waiting to see what the outcomes are going to
  104. be. I hope you guys have a great weekend and
  105. a great West rest of your week.
  106. We'll see you next week.
  107. Take care.