Statistics Courtesy of: Honolulu Board of Realtors (HBR), May 2020
Text: CENTURY 21 Hawaiian Style
It's a Buyer's Market For Prospective Condominium Owners!
The unprecedented occurrence of Covid-19 earlier this year has had profound effects on the economy across the nation. The real estate market has not been exempt. With many states now opening back up, the real estate market is experiencing a seismic shift.
According to recent statistics generated by the Honolulu Board of Realtors (HBR), the median condominium sales price on the island of O'ahu fell on average 18%.
In May, the real estate market in Hawaii saw a significant decrease in condominium price, falling from an average median of $410,000 in 2019 to $380,000. As many prospective buyers, current owners, and investors already know, these properties are highly coveted.
Considering this change, Hawaii has not seen a significant change in the number of median sales so far this year.
Could this be your opportunity to buy into the Hawaii real estate market?
Our Realtors are specialists in the Hawaii Real Estate market.
Ask us how you can take advantage of this rare opportunity today!
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