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Hi Elizabeth. My understanding is your market is very similar to the Hawaii market. This is due to the high rate of foreign investment we both have in our real estate markets and the limited land available to develop.
We have one new change in our economy. Because of the high influx of tourists we are dependent on, the high gas prices(affecting air travel) and the closure of ATA and Aloha Airlines (with United severely reducing the # of flights) we will feel a further economic change but difficult to predict how currently. I don't think our prices will change much but perhaps a further slow in number of units sold.
Our median price of homes per the Honolulu Board of Realtors for May 2008 is $649,500 and condos $337,300. Our volume is down by about 25% from last year.
Hope that helps.
Warm Aloha,
Kelly Mitchell
Honolulurealtor@hawaii.rr.com
Jun 30, 2008 at 6:10 PM
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Great question, Elizabeth. The short answer is:
Oct 16, 2007 at 2:57 PM
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2 responses
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