Good Time to Buy, Good Time to Sell!!

Whether you find yourself in a position of Buyer or Seller, the Hawaii real estate market is at a “balanced point between supply and demand” according to Harvey Shapiro, research economist for the Board of Realtors. The numbers are in on residential sales during the month of May, and demonstrate that it a good time to buy or a good time to sell.
The Honolulu Board of Realtors reported in Tuesday’s Honolulu Advertiser that “existing single-family homes sold last month for a median $650,000, down 2.7 percent from $668,300 a year earlier.” In all there were 357 completed sales transactions which reflects a modest 4.5 percent decline from May, 2005.
The median condo resale price in May was $325,000 reflecting in an increase in sale price of 6.2% from the $306,000 reported in May, 2006.However the number of condos sold during May, 2007, 543, reflects a decline of 10.2%.
“Median prices continue to plateau and activity is good,” said Bert Hamamoto, president of Property Profiles Inc. and the Board of Realtors. “Our expectation is that the market will maintain the current pattern for the rest of the year, subject to interest rates staying stable.”
Whatever position you may find yourself in, in the current residential market, you can count on Trinity Properties to service your every need.
Our Warm Aloha..