August Real Estate Report: Most Oʻahu Houses Selling In 30 Days or Less

The real estate market is ever-changing. 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.

August 2019 Oʻahu Real Estate Market Trends

  • Buyers got a 2% discount on purchases made in August, for single family homes, compared to listing prices!
  • Single-family home prices were down this August, compared yo last August. This includes closed sales & average sales price.
  • Low interest rates meant that August was a relatively stable month for the housing market. No surprises last month!
  • Homes and condos spent less than 30 days on market. Being able to sell a single family home or condo in less than 1 month? That’s happy times for sellers.

Want to understand the data better? Contact Sam for a personal consultation! Making Realty Dreams A Reality!

august 2019 oʻahu real estate report statistics graphic

august 2019 ewa plain real estate monthly indicators

ʻEwa Plain Stats

The August monthly statistics for the ʻEwa Plain include Kapolei and ʻEwa Beach.

  • 80 homes and 53 condos sold on the ʻEwa Plain last month — active as usual. The ʻEwa Plain region is one of the most active on the island, typically second only to the Waikiki Metro region in total sales.
  • Last month’s stats show an increase in new listings for single-family homes, because of that, homes look a little longer to sell than in August of 2018.

Sam’s Commentary

This month I would like to show my respect to the men and women who serve our country in the armed forces. The federal government offers these personnel a wonderful benefit of the VA home loan! Let me highlight the benefits:

No Down Payment: Up to a limit of $726,525, and only 25% for any amount over this limit. This assumes you do have a good credit history.
No Private Mortgage Insurance: There is no mortgage insurance for VA loans, which could save buyers hundreds of dollars every month, for the life of the loan!
Looser Credit Requirements: Most VA lenders are looking for a credit score of at least 620.
Forgiving Debt-to-Income Ratios: VA lenders desire 40-50% of income to be used for major debts. Conventional loans are around 30%.
Minimized Closing Costs: The VA limits what fees and costs veterans can pay, and the lenders understand this factor.

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