Half of Oahu neighborhoods had more or flat home sales in the last year
The Koko Kai neighborhood, seen in this file photo, was one of several to see sales during the 12-month period ending in March double when compared with the previous year, according to an analysis by the Honolulu real estate firm Locations.
EUGENE TANNER PBN
By Janis L. Magin – Real Estate Editor, Pacific Business News
There were 9 percent fewer sales of single-family homes sold on Oahu during the 12-month period ending in March, but an analysis by the Honolulu real estate firm Locations found that 45 percent of single-family homes experienced an increase or no change in sales during that period.
The Locations analysis found that 36 percent of the single-family home neighborhoods on Oahu had an increase in the number of sales, while 9 percent had no change.
“At Locations, we analyze hundreds of Oahu neighborhoods, because it’s really not that relevant to folks in Haleiwa — for example — that overall Oahu home sales were down 9 percent — in Haleiwa, home sales doubled since last year,” Scott Higashi, president and CEO of Locations, said in a statement.
The report found that other neighborhoods such as Koko Kai, Hoakalei-Kuapapa, Waipio Acres/Waikalani, Haleiwa and Keapuka also had at least double the number of sales during the 12-month period, when compared to the previous year.
The analysis also found that 72 percent of the 104 neighborhoods experienced an increase in median price over the last year, when compared to the previous period, while 20 percent saw a decrease in price.
“When people read only the overall Oahu market statistics, they really miss out on what’s happening in their particular neighborhood,” Higashi said. “We think that people make more informed real estate decisions when they look at micro-neighborhood data.”