Prices Rising.. Shifting From a Buyers Market?
The Honolulu Board of Realtors has recently reported that January home sales, in both the Single Family and Condo categories, have seen an increase in price. They state that the median price of a Single Family home has increased to about $618,900 which would be about an 8.6% increase from the previous medium home price in 2011 of $570,000. The same goes for Condo properties as well. The median price from January 2011 was $291,000 and has increased this past month to about $305,000 which would have been a 4.8% increase. This shift in prices could mean a big something to interested real estate participants. The market just may be switching relatively soon from a strong buyers market to a sellers market. With that being said, buyers, now may be the perfect time to settle on a home and buy before the market eventually flips to the sellers side!
