Oahu home sales market flying at rapid pace

Oahu home sales market

The Oahu home sales market has really picked up to a rapid pace this year.  Properties are selling so fast right now, it is common to have multiple offers.  One home that recently came on the market had 32 offers within the first few days of being on the market.  Yes, you read that right, 32 offers.  My buyer clients have had to decide quickly and move fast to get a home.  There is such a lack of inventory for the amount of buyers out there and buyers have to very prepared to act.

Looking at the data over the last few weeks of sales have really picked up and usually this is not the busiest time of year for Oahu home sales.  The number of days properties are on the market are falling Homes are selling for about 100% of list price.  There is much less negotiation going on right now.  Buyers have to be willing to submit their best offer immediately.  We are seeing some fallout from these contracts, but not as much as expected.  Agents are lining up back up offers easily.

Buyers and Sellers

Buyers must prepare themselves and line up their financing before starting to look.  Extra cash is always good to have.  Then I help bring buyers up to speed about the pace and what can be realistically be expected in different neighborhoods and different price ranges.  In such a challenging market Buyers owe it to themselves to work with a team that can help them understand their options and educated them about the nuances of the current market conditions.

Sellers need agents that are excellent at pricing.  Bringing in multiple offers right off the mark is an excellent way to try to bring the best offer in quickly.  Pricing too high and having a property sit can only cost money and time.

Make sure you are working with an Realtor who will work tirelessly for you.  Let us help you find your dream home in Hawaii.

Agent to contact:
 Malia Meenderman, Broker in charge. Bonnebaker Luxury home expert.
Phone: 808-394-9779

Hawaii Loa Ridge home sold within days of coming onto the market

Hawaii Loa Ridge home sold within days of coming onto the market

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