Kailua area market improving in November

Kailua is a wonderful place to live.  The town revolves around living outdoors and encapsulates the idea of community.  Kailua Beach which includes lovely Lanikai Beach are regularly on the list of most beautiful beaches.  It is no wonder that this area did not fair too badly during our economic crisis.  Properties still moved relatively easily here because of the desirability of the location.

I had some concern about the state of the market when the October 2011 numbers revealed the median price for that month to be $610,000.  This was nearly a 16.5% decline from the previous month of $730,000.  Well, now for the month of November the median sales price is back to the $730,000 level.  The median sales price growth has generally been stagnate for 2011.  Any good deals are quickly snapped up and we are definitely seeing a great number of pure cash transactions including a $6.1 million sales on Lanikai Beach.

If you would like to learn more about the dynamic and wonderful community, contact me, Malia L. Meenderman, R, for more information.

 

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