Honolulu, HI home prices and housing market

Honolulu home values rose about 3 percent this year, yet the typical home now sits for around 71 days before selling. If you are thinking about selling, that gap between rising prices and slow sales is the thing to understand. The typical Honolulu home is now worth about seven hundred thirty-two thousand dollars, up roughly 2.6 percent over the past year. That is a steady, modest gain, not a runaway market. Meanwhile, buyers have plenty to look at. There are about two thousand two hundred homes for sale, and only around 500 new listings came on last month, so inventory is sticking around rather than turning over. The median asking price sits near six hundred twenty thousand dollars, well below that typical value, which tells you where most of the real activity is. But here is the turn. Only about fourteen percent of listings have taken a price cut. Sellers are not panicking or slashing. They are simply waiting. So what does that mean for you? Price your home right from day one and you can still sell into a market where values are rising. Overprice it, and you will likely sit past two months with nothing to show for it. If you want to know where your home fits in this market, get a free home value estimate at Home Value Pros dot com.