The median price of an Oahu single-family home reached $700,000 for the first time in June. The mark is up 3.4 percent from the same month last year and blows past the previous record of $685,000 first reached in June 2007 and again in December 2013, according to a report released Monday by the Honolulu Board of Realtors. (Honolulu Magazine article by Jaymes Song 7.7.2014)
|Sky's the limit to Honolulu real estate market|
So, Honolulu's real estate market for single-family homes reached a new high, and it seems continue to go upward this Summer.
Single-family homes islandwide are being snapped up quickly, staying on the market only an average of 19 days, according to the board.For buyers, it is essential to be ready for a mortgage (pre-qualify), cash ($140,000 for 20%), and good eyes on new listing. Don't forget to ask your real estate professional to set up automatic alert for your search and stay connected.
Have a great Summer!