April’s Market Update
Do you want the truth about Oahu’s housing market? Yes, we all do! Hi, I am Fawn Bertram with Homes by Fawn and Hawaii Life. I’ve bet you’ve heard we’re heading into a “housing crash” but the truth is we’re moving into a normal, balanced market. This is exactly what we want.
Let’s talk about a few stats for the month of March. The sales of single-family homes declined by 9.5 percent, while condos/townhomes decreased by 3.7 percent from March 2018.
The median sales price though for single-family homes increased by 3% and for condos/townhomes, it decreased by 1.4% from March of last year.
For new listings on the market, there was a positive increase in single family homes by 33.6% and for condos/townhomes by 23.3% from last March. The median days on the market for single-family homes was 24 days and 22 days for condos and townhomes.
As we’re seeing, there’s more inventory on the market. Which is great because there are more options at different price ranges. Plus, mortgage rates are lower than we’ve seen in the last 8 months.
Is it the right time to buy? Yes, as a buyer there is more inventory on the market and with lower interest rates you can qualify for more!
Is it the right time to sell? Yes, because buyers have more buying power and can afford more to purchase your home!
If you’d like to get the “real skinny” about what’s happening in the local and national real estate market then reach out. Steady sales volume, moderate price increases, and more inventory across all price ranges are positive indications of a healthy real estate market. Questions, please call or text me, 808-439-1077. Fawn Bertram with Homes by Fawn. Please comment, like and share with anyone you know that may be looking to buy or sell in Oahu! As always, make it a great home buying and selling day!