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Spring is upon us! This means the start of increased sales activity and much needed inventory. With so much uncertainty in the world today, Oahu real estate is proving to be as stable as ever. Click above to watch a short video on the latest market update. Did you know people on Oahu made more money on the increased value of their home than they did working their job in 2021?! We have seen roughly a 23% increase in single family home values from 2021 to 2022. It's time to cash in on those values and appreciation. Thinking of selling your home? With interest rates rising now might be the best time. Do you know anyone looking to sell in 2022? Ask me for a FREE valuation! |
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The single-family home market continues to lag behind condos in sales, with single-family home sales falling 7.3% compared to last February, while condo sales were up 9.0% year-over-year. Sparse inventory and sustained demand drove the median single-family home price to a new record high of $1,125,000, up 22.6% from this time last year and 7.1% higher than the previous record of $1,050,000 set in August 2021. The condo market saw a modest bump in the median sales price of $497,000, rising 8.6% from one year earlier. |
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Closed sales through the first two months of 2022 remain ahead of last year, increasing 2.9% for single-family homes and 23.9% for condos. Single-family homes in the $899,999 and below range saw the largest decline with a 54.0% drop compared to this time last year. On the other hand, condos continued to mark strong sales volume for the 15th month in a row with positive year-over-year sales growth, with properties sold at $500,000 and above accounting for most of the sales increases up 28.2%. |
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Having trouble deciding between a condo or a single family home? Click above to watch a short video on what you should keep in mind before deciding. |
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Recent Closings |
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3809 Tantalus Dr: I helped my clients beat out 10+ offers to secure this home at $1.908M! We actually came in 2nd place in the first round of offers and were placed in first position backup but the first buyers canceled so we were able to swoop in and purchase this home. It even appraised for higher than our purchase price which is very rare in this market! 2235 St Louis Dr: This one was also competitive as I helped my buyer beat 7 offers and secure this home for $1.2M. It had a lot to do with our friendly and strategic terms and this home appraised for full value. 1415 Victoria St #816: Helped my seller purchase this property for $345,000 4 months ago, and with a little renovation we were able to resell it for $430,000! The flip market is very strong. Despite the low inventory, buyers are still being picky and wanting move in ready homes. |
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Current Listings |
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2979 Kalakaua Ave #803: Still available and price reduced. No property taxes on this one! 1350 Ala Moana Blvd #512: Best priced 2 bedroom in the building. Newly renovated. 55 S Judd St #610: In escrow but looking for backups. 1783 Akaakoa St: Just listed in Kailua! Come to my open house this Sunday 2-5pm |
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New Project Spotlight: Mandarin Oriental HNL |
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The Mandarin Oriental is coming to the corner of Kapiolani Blvd and Atkinson Dr across from the Convention Center. The property will feature a hotel component and 99 private homes starting at $3M. Contact me for more details and for a tour at the sales gallery. |
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Real Estate in the News |
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Investing in the Metaverse Real Estate Boom There’s a land rush happening — and it’s not in New York City or Beverly Hills. Early speculators, professional real estate agents, and celebrities are buying up land that doesn’t even exist in the real world. They are investing in metaverse real estate, a concept mind-boggling to most people. So, what exactly is the metaverse? Technologists say the metaverse is the next level of the internet. It’s a virtual reality platform where people can play games, connect with friends, attend meetings, and even go to virtual concerts. But h ow much does it cost virtual land buyers? |
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