New Housing: ʻEwa’s NorthPark By Gentry
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.
Exciting news for homebuyers on the ʻEwa Plain — sales at the new development NorthPark by Gentry are underway. Here’s what you need to know:
- NorthPark is at Ft. Weaver Road & Renton Road, with the entrance at Keaunui Drive.
- A total of 174 homes will be built.
- These single-family homes are 3-4 bedrooms, with prices in the low-to-mid $600,000 range.
- HOA is $160/month, plus Ewa by Gentry Association dues of $115 every three months.
- There will be 19 phases rolling out, and the first 5 phases are already approved for construction.
- The first phase of 9 homes was released on June 27, and a lottery was held for the selection process of buyers.
- The second release of 10 homes was July 25.
- Next release of 10 homes will be in late August.
- Single-family home sales were down by 7.6% compared to the same time last year but increased 21.8% from May.
- The median sales price declined by 3.8% to $770,000 compared to June last year.
- New listings show a decrease of 2019 by 14.6%, but again saw a month-over-month gain of 13.6%.
- Condominium sales remained sluggish, with June sales down 34.0% compared to the same time last year.
- But month-over-month sales activity saw an improvement with closed sales up 22.8%.
- New condo listings were down by 20.8% year-over-year, but up by 17.5% from May to June.
- New listings for single family houses & condos were down 18%. Meaning buyers have fewer choices.
- Closed sales were also down for single family houses only by 8%, and condos down 38%. Due to fewer new listings.
- Median sales prices were slightly up for both categories, and closed at close to original sales prices. Competition from other buyers keeps prices up.
- Inventory was also down for single family houses by 43%, with condos also down by 10%.
There are 4 model homes to view, and I saw them on day 1 of opening.
NorthPark houses are showing by appointment only, due to COVID-19 precautions. If you would like to take a look, I can help you set it up! Call or text 808-265-1450 or email me at Sam.Paltikian@cbpacific.com.
The Oʻahu Housing Market
We saw sales activity start to pick up again on Oʻahu after a slowdown in May.
If you want to learn more about market conditions for 2020, please contact me for a one-on-one discussion. Sam.Paltikian@cbpacific.com, Mobile 808.265.1450
ʻEwa Plain Stats
Home prices in the ʻEwa Plain have stayed steady. Fewer people are listing their homes, meaning that competition among buyers remains strong — this keeps prices up.
To look for properties that match your needs, start a customized home search today.