Best in Real Estate Hawaii 2014 Fast Facts

 

  • Between 1985 and 2013, the median sale price of a single-family home on Oahu went up 310 percent—an average of 5 percent a year. Condos went up 234 percent in the same period.

  • In 2013, the hottest-selling neighborhoods for single-family homes were Aina Haina-Kuliouou, Kapahulu-Diamond head and Moanalua-Salt Lake, with properties on the market an average of just 14 days. For condos/townhouses, it was Mililani, with an average of 13 days on market.

  • The earliest residential subdivision in Hawaii was announced in 1846. Called Kulaokahua, the subdivision was bounded by today’s Alapai Street, Kinau Street, Makiki Stream and King Street.

  • Honolulu is the fourth best city in America for home sellers, according to real estate site Movoto, which in 2013 ranked cities according to sales volume, median days on market, crime rate and other factors.

  • 1971: the median year of construction of Honolulu homes and apartments.

  • Hawaii’s real estate market has an annual rhythm: The highest number of sales happen between June and August; the lowest, between December and February.

  • Think your house is expensive? In 2006, 145 Kailuana Loop in Kailua sold for $24 million. (possibly contributing to the price: the beachfront location, and the 60,000-square-foot lot.)

  • 61.4 percent of the average American family’s net worth is in home equity.

Real Estate Fast Fact Sources: Forbes, Movoto, Honolulu Board of Realtors, National Association of Realtors, City-Data.com, Firsts and Almost Firsts in Hawaii by Robert C. Schmitt.

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