Honolulu, HI housing market

Honolulu's housing market is barely moving, and that is the real story this month. The typical home is worth about six hundred sixty thousand dollars, up just 0.7 percent from a year ago, which is essentially flat. Sellers have not adjusted their expectations though. The median list price sits near six hundred eighty-eight thousand dollars, well above what homes are actually valued at, and the typical listing takes about seventy-one days to go under contract. That is a long wait. Even so, only about 11 percent of listings have cut their price, which tells you sellers here are holding firm rather than chasing the market down. Buyers, meanwhile, have genuine selection, with about two thousand one hundred sixty-nine homes for sale and roughly 584 new listings arriving this month. If you are selling, the takeaway is simple. Price it right from day one. In a slow, flat market, an ambitious number just buys you two extra months of sitting.