MARKET INFORMATION

In this chart, we can see the “odds of selling your home.”  It is based on the last 2 years of sales on Wilhelmina Rise.  In 2021, we can see 34 homes were sold (blue).  At the end of the year 7 homes were left for sale (green).  12 homes did not sell (red).  Roughly, 2.8 homes sold per month.  There was 2.5 months of supply.  These numbers give us a 64% chance of selling.  So far in 2022, 11 properties have sold (blue), 2 homes are under contract (orange), there are 4 homes for sale (green) and 5 homes have not sold (red).  Homes are selling at a slightly slower pace of 2.6/month and the odds of selling are down 5% to 59%.

The buying patters chart shows us how many homes closed in each given month.  We can see that in 2021, there were closing grouped in the Spring and Fall. 

This chart shows us the Buying Patters so far for this year.

Each dot on this chart represents a closing in 2021.  On average, it has taken 95 days to closed a property on Wilhelmina Rise.  The average sales price was $1,281,030.

In 2022, the properties have been closing in 58 days (39% quicker).  The average sales price in up 7% to $1,369,727.

Each dot represents a closing in 2022.  If we run a line thru the average of these dots, it gives us a rough guide to pricing based up interior square footage.

This chart takes all the data from the past two years and predicts what the next 90 days will look like.  It is predicted that 9 new homes will come on the market and two properties will close

SUMMARY

In summary, prices reach record highs for both categories as a result of continued low supply and intense demand.  Demand sees nearly a doubling of interest rates in the past 16 months.  This increase in interest rate may have caused Single family homes to show continued signs of slowing with 3% lower closing volume and an 11% increase in days on market.  Condos show no signs of slowing with increased closing volume and 8% decrease in days on market.  Supply remains low across the board, but especially so in condos with active inventory down 20% and months supply down 40%.  US Mainland and International buyer investment is up and should continue to increase with international travel opening up.  Market velocity is at 10-12 days to sell property and Hawaii’s economy continues to recover with lifted Covid mandates.