Oahu Real Estate Sales Activity – December 2018

Oahu Real Estate Sales Activity - December 2018

Here is the sales activity for the month of December 2018 compared to the same month last year. This covers resale homes for Honolulu County (Oahu) and does not include new construction homes, unless reported by the builder.

Single Family Home Resales

Month # Sales DOM Median Price Avg. Price
Dec. 2018 259 28 $788,000 $981,313
Nov. 2018 288 29 $797,000 $1,000,053
Dec. 2017 361 16 $750,000 $861,097

Condos/ Townhouse Resales

Month # Sales DOM Median Price Avg. Price
Nov. 2018 440 25 $398,500 $450,252
Oct. 2018 429 22 $420,000 $502,617
Oct. 2017 461 18 $405,000 $477,342

Single Family Home  prices are up slightly over last year, but dropped a little from November. Sales volume is down and the average days on the market has continued to increase slowly. This is still a good time for home buyers. Even though sellers are seeing it taking longer for their homes to sell, homes are still selling and prices are holding strong in most areas, we are seeing some softening of prices in a few areas.

Condos and townhouses sales volume are down a little from the same time last year, but up from last month. With the increased sales volume, prices softened from November. Average days on the market is starting to creep up a little.

On Oahu, we did see more of a holiday slowdown than past years. The first week of the year we are seeing increased activity from buyers. We expect to see increased numbers in February and March from the activities from buyers in January.

Future interest increases will impact mortgage payments for homes, greater than price changes. If you are thinking of upgrading our downsizing to a new home, this is still a good time to do that. Contact us anytime for updated numbers for your property or individual community.

*Median price means half the prices were above and half below the given price. Data was taken from the Honolulu Board of REALTORS® MLS system. It is deemed to be accurate, but not guaranteed.

MTA Cardboard Regatta Winners!

MTA Cardboard Regatta Winners

Congrats to Chuck and Taylor, lucky winners of 2 $25 gift cards to Ruby Tuesday!

Why Use a REALTOR?

Why should you use a REALTOR®? To find out, listen to this commercial that our very own Darnelle Prothero recorded for the Honolulu Board of Realtors.


Exceptional 4 BR/ 3.5BA Ewa Gentry Home for Sale

Check out this amazing Haleakea home with too many features to list. Absolute must see! See the full listing site and video at www.EwaGentryHome.com

Exquisite Hawaii Loa Ridge Luxury Home & Estate

Listed at 7.9M, this custom home and estate are located on one of the best spots on the entire south shore of the island. Featuring panoramic ocean views from every major room, entertainment space or deck. Both Diamond Head and Koko Head facing views. Watch the video tour here. For more details and a photo gallery, please visit www.HawaiiLoaHome.com

Waikiki Condo for Sale with Amazing Ala Wai Harbor Views!

Experience beautiful sunsets and amazing harbor views from this rarely available high floor condo at the Ala Wai terrace! See the video tour and flyer below for more info on this two bedroom Waikiki condo for sale, just listed at $475,000.


Hawaii First Time Home Buyer Testimonial

First time home buyers Mikey and Louie Lynn talk about their experience working with us to buy a beautiful condo in Mililani Mauka.

Makikilo Home Buyers Success Story

Makakilo Home Buyers Ashley & Will talk about their experience buying a lower Makakilo home with us.

Two Types of Real Estate Team Selling

Real Estate Sales Teams fall in two categories:

  1. A team designed to allow the real estate agent to dedicate more direct time with clients.
  2. A team designed to keep clients away from the real estate agent.

Oahu real estate teamThe Prothero Group at Island Style Realty was created to improve the client experience when buying or selling a home. It was also created to free your agent of much of the administrative work to allow more time in the field with our clients.

We all hear those TV and radio commercials with gimmicks or guarantees. Some real estate teams even make claims of selling homes for giant percentages higher than other agents, when the truth is they sell them for less, take longer and in many cases fail to sell them at all. They sign up tons of homes, sell many more than most agents; yet fail to sell many more than any other agents in the area. It is a game of numbers for them. Some even guarantee to sell your home or they will buy it. When you finally read the fine print you are made to feel you walked on the used car lot. This business model is quite different than ours. Their agents are shielded from their clients by an army of assistants and clerks.

At The Prothero Group, we offer no misleading gimmicks. Instead of paying large sums of money for paid celebrity endorsements, we spend our money on marketing your home. Through our aggressive marketing programs we simply sell homes for more money and faster than the overwhelming majority of Realtors. We get our endorsements from past clients who were delighted with our service.

Real Estate Sold!We include more services than almost any other real estate agents. Our only promise is to do a great job for you. Our track record speaks for itself.

  • Free pre-listing consultation and analysis of your home and market conditions
  • Home staging consultation with a professional interior designer
  • Professional photography and video tours
  • Custom websites for your listing
  • Open houses, staffed by licensed agents
  • Direct marketing to top area Realtors
  • Social media campaigns
  • Direct mail marketing

If you are thinking of selling your home, schedule a free consultation. We can help you develop your plan. We also have several licensed professionals standing by to assist you with repairs etc.

We would be honored to help you purchase a home. By selecting us, you will be represented by one of the most dedicated and respected real estate teams in the industry. Buyer agency services are free in almost all cases, so do not be shy. Give us a call and let us get you started on your path to home ownership. If you do not think you are ready to buy due to credit issues, we can put you together with professionals to get you on your way.

If you are a member of the military or have formerly served, we are experts in the use of your VA benefit. We sponsor free VA seminars as our way of saying thank you for your service. Our goal is to help those who defended our soil, own a piece of it.

At The Prothero Group advice is always free. Give us a call anytime at (808) 625-5057.

Oahu real estate team

Hawaii Home Possible Programs Now Available

Hawaii Home Advantage Loans

Lenders in Hawaii are now offering conventional Freddie Mac mortgages with down payments as low as 3 percent and reduced mortgage insurance requirements. These new programs are called Home Possible© and Home Possible Advantage(SM) and offer outstanding flexibility and options towards purchasing a primary residence. With mortgage rates still at record lows, these offer a good opportunity to stop paying rent and beging enjoying a stable, affordable mortgage for your own home. Call us today at (808) 625-5057 for more information.

Key Highlights of Hawaii Home Possible Programs

  • New down payment as low as 3 percent
  • Maximum loan-to-value ratio of 97 percent for 1 unit (Home Possible Advantage)
  • Maximum loan-to-value ratio of 95 percent for 2 to 4 units (Home Possible)
  • Lower mortgage insurance coverage requirement, reducing monthly payments
  • Both first-time buyers and other borrowers with limited down payment savings can qualify (1 qualifying buyer must participate in a homeownership education class)
  • No reserves required for 1-unit properties
  • Down payment, closing costs and escrow impounds can be made entirely by gift funds (Home Possible Advantage)
  • Lender-paid mortgage insurance permitted
  • Flexible underwriting requirements including use of rental income from occupying roommates

Restrictions of Hawaii Home Possible Programs

The borrower(s) may not have any individual or joint ownership in any other residential property as of the note date. Income eligibility will be determined by automatic underwriting criteria. Other restrictions may apply.

Call us today at 625-5057 for more info or for referrals of exceptional local loan officers that offer these loans!