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Wai`alae-Kahala Homes

Donald L. Plunkett, Jr. Donald L. Plunkett, Jr.

The Island Real Estate Blog from the Honolulu Advertiser points out that the ritzy Wai`alae-Kahala neighborhood of Honolulu saw the following improvement between 2006 and 2007:

  • 136 sales vs. 127 sales (7.1% increase)
  • Days on market decreased from 75 days to 46 days

The same blog also pointed out that although the number of sales of single family homes is down 13%, the median sales price was $600,000 which i exactly the same as last year.

Realtor associations often talk about the weak dollar and how it could lead to foreign investment purchasers.  While this is not going to help a homeowner with an ordinary tract home in for instance, Denton, Texas, it could help commercial real estate property owners as well as homeowners in places like Honolulu or San Francisco that tend to attract wealthy foreign investors.

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