Oahu real estate continues to show positive signs in the first quarter of 2010. The number of sales for single-family homes was up 36.7% from 436 to 596 while condominium sales grew by 48.7% from 552 in the first quarter of 2009 to 821 the same time this year.
Several Oahu areas saw more than 90% increases in the number of sales including; Kaneohe 103%, North Shore 100% and Pearl City- Aiea 90% for single-family homes and Leeward 106.3%, Makiki 93.5% and Diamond Head-Kahala 92.3% for condominiums.
The median price for single-family homes increased by 4.8% from $567,500 to $595,000 and the median price for condominiumsÃ‚Â grew 2.3% from $295,244 to $302,000.Ã‚Â 45 Single Family neighborhoods and 13 condominium neighborhoods saw an increase in median price in this last 12 month period.
Here are the Top 5 Performing Neighborhoods that experienced the highest median price appreciation.
Single Family Homes
- Lanikai in Kailua +37.7%
- Waimalu in Pearl City/ Aiea +34.9%
- Lilipuna in Kaneohe + 26%
- Woodlawn in Manoa +21.6%
- Lower Nuuanu in Makiki +17.4%
- Kapalama Ã¢â‚¬â€œ Kalihi +53.3%
- McCully – Nuuanu/ Makiki +15.6%
- Lower Punchbowl – Nuuanu/Makiki +9.5%
- Waialae Nui Valley – Waialae/Kahala +8.6%
- St. Louis – Oahu Other+8.2%
Homebuyer Tax Credit Ending April 30th
The government’s $8,000 first-time and $6,500 repeat homebuyer tax credits are ending this month, but it’s not too late to qualify for it.
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