Experience Urban Living at Kapiolani Residence
“Low inventory and increasing demand are driving the 2017 market to new heights, with lower days on market despite rising prices. As competition is strongest during the summer months, we anticipate prices to continue to increase as buyers bid-up over the asking price of condominiums and single family homes."-Scott Higashi, CEO of Locations
The competitive market is driving sales volume and prices, and encouraging sellers to accept offers more quickly. This strong demand is driving buyers to bid up over the already increased sales prices for condos and single family homes. Based on the current market trends, we can expect to see increased turnover as more properties are listed on the market, but sell faster than they have in previous years.” Scott Higashi, CEO of Locations
Home and condo prices are rising all over Maui. The single-family home median home price increased +15.8% to $650,000, while the median condo price saw an decrease of -3.8% to $402,000. Fourth quarter shows a decrease in single family homes sales at -0.4% while condo sales are up +18.2%.
The Oahu median home price hit $760,000 in February 2017, tying June 2016 for the highest on record, and up 9% from last year.
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