The Ewa Plain is a hot market
In this month’s issue of HONOLULU Magazine, I named three of the hottest Oahu neighborhoods—Kakaako, for its up-and-coming potential; Kaimuki/Diamond Head, as people previously living in rural areas try to move back to town; and the Ewa Plain, for those that want a new home and to live in the Second City.
Well, lo and behold, the Honolulu Board of Realtors (HBR) just released neighborhood residential resales figures for August 2012 using data collected from its computerized Multiple Listing Service (MLS) system, and the neighborhood with the most closed sales was the Ewa Plain.
A total of 58 single-family homes sold in the Ewa Plain area, an increase of 45 percent compared to the same month last year. Year to date, this area also showed the largest number of closed sales for single-family homes, with 315 units sold.
In the condo market, 77 units sold in the Waikiki area, which is an increase of 22 percent over the same time last year. Year to date, 597 condo unit sales closed in Waikiki, which was also the highest number for the island. Of course, Waikiki is one of the most densely populated condo markets on Oahu.
What is making these neighborhoods so desirable to live in? Get a copy of this month’s magazine, or check out the article here.
In the meantime, to see the rest of HBR’s neighborhood stats for August 2012, visit HiCentral.com. The report will also show comparisons of median prices: Waialae-Kahala had the highest median price for single-family homes at $1,679,470, an increase of 21 percent compared to last year. Hawaii Kai had the highest median sales price for condos at $469,000, an increase of 13 percent.
Where does your neighborhood stack up?