Good News For West Side Home Buyers: Prices Are Down, With More Inventory On The Way

Every month the Honolulu Board of Realtors publishes a home sales report for every neighborhood on the island. As you can see, it’s a lot of charts and numbers. Happily, Kapolei Realtor Sam Paltikian RS-79996, at Coldwell Banker Pacific Properties: (RBO-16781), is here to explain what it all means for west side homeowners. Sam recently earned the Accredited Buyer’s Representative (ABR®) designation from the National Association of Realtors.

Sam’s June Real Estate Report Highlights

  • Median sales prices climb again in June! However, compared to last year, single family home prices have declined 5.3%.
  • Inventories are up about 30% for both single family homes and condos, as closed sales are down for both categories.
  • The housing market experiences changes from month-to-month, which is typical when you take a snapshot of a small window of time. However, the overall housing market on Oʻahu continues to grow, as we do have a finite amount of land to share with the population.

If you want to understand this data better, contact Sam for a personal consultation! Making Realty Dreams A Reality!

oahu housing market sees increases in median sales prices

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Kapolei Quarterly Stats

  • The quarterly results show a slowing trend for sales.
  • As inventories climb, buyers have more choices, so it takes more time to decide which home to buy.
  • When sellers’ days on market (DOM) get longer, they become more motivated to negotiate price and terms of sale.

kapolei real estate snapshot q2 2019

Gentry Is Building More Homes Here

Gentry continues to build with new developments in ʻEwa Beach & Kapolei. Where else on Oʻahu can you buy a brand new home, at these affordable prices!

Coral Ridge & Seabridge

coral ridge / seabridge sign

Located on Geiger Road and Kamakana Street, between Coral Creek Golf Course and Barbers Point Golf Course. Coral Ridge has 4 model types, many have golf course frontage. Inside living space is 1,500 to almost 2,000 square feet, and homes are priced in the mid $700,000’s.

Seabridge also has 4 model types, with square footage of 1,147 to 1,259, priced in the mid $500,000’s. Both developments having upgraded environmental technology of spray foam insulation, solar water heaters, and smart thermostat control. Many homes are already built, but much more new construction continues.

Development at Ft. Weaver Rd. & Renton Rd.

ft. weaver renton rd. construction area

Construction has started on a new development along Fort Weaver Road, at the intersection of Renton Road, by the  ʻEwa Gentry community center. No details on this development yet, but the land space is large, and they are putting in the sewer and road infrastructure now.

Development Along Kapolei Golf Course

kapolei golf course housing construction

Gentry is building homes off of Kapolei Parkway, kitty corner from Ka Makana Ali’i. Land is graded and curbs are starting to be put in on this stretch of land. It looks like there will be several homes along Kapolei Golf Course!

Keep an eye out for these monthly reports — I’ll keep you updated as new information becomes available.

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Sam Paltikian is a REALTOR-ASSOCIATE®, RS-79996, at Coldwell Banker Pacific Properties: (RBO-16781)