Market information
Providing all the information you need to make an informed decision
What are your odds of selling?
In this chart, we can see the “Odds of Selling Your Home”. It is based on the last 2 years of sales for St Louis Heights. We can see a nice increase in our odds of selling from 54% to 71%, from 2019 to 2020. The rate at which units are selling is up .7 per month. There are currently 3 units in escrow and 4 units active.
What are Saint Louis Heights Buying Patterns in 2019?
Each sale in 2019 is represented in this “Buying Patterns chart.” We can see that the closing dates group around the Spring and Sumer Selling Seasons. If we assume that most properties take on average, 45 to 60 days to close, we can roughly estimate when these properties went in to escrow or the ideal time to list a home. February to July/August are best
What are Saint Louis Heights Buying Patterns in 2020?
2020 was much different. Sales went off a cliff in March and April and then all that pent up demand and low interest rates, kept activity high for the rest of the year and into 2021. Closings ended up being 36% higher for single family homes.
How is the Saint Louis Heights Market?
“The Pond” chart illustrates the concept of a market… where properties are coming on the market and going off the market at specific rates. In the past 90 days, 6 new properties came on the St Louis Heights market and 8 sold. There are currently 7 units on the market (4 active and 3 in escrow).
How long does it take to close?
Each dot on this chart represents a sold property in the past two years, St Louis Heights. On average, it took 104 days on market to receive and accept an offer in 2020. In 2019 it took 94 days. This Days on market total is reflective of the “average” unit in “average” condition, with “average” marketing. Our goal is to hit the market with above average preparation, marketing and a competitive price. This will ensure that we sell for the most amount of money in the shortest amount of time. Ave Sale price is $1.034M
What is the BIG picture?
The nation is up ~8%, on average(2020Q3). Hawaii is 47th highest in the nation for price appreciation (5.2%).
How has Days On Market Changed?
In 2019, DOM was rising (35 days). Dropped in 2020 (10 days)
Where are the sales occurring?
Majority of Single Family sales occur between $700 < 900k
What about tourism?
Absolute crater for tourism in 2020. Only stat up that went up was Ave Length of Stay (+21%)
How is Hawaii's economy?
Hawaii’s economy went off the cliff from 125 points in March 2020, to 67 points in May. As of December, we are back up to 105
How many sales have closed on Oahu?
Closed sales are up 36% for single family in 2020, year over year
What is the supply of homes on Oahu?
Inventory has being going back down after steady gains since 2017. 6 months is considered a balanced market. Less than 6 months is a seller’s market (<6 months) and greater than that, is a buyer’s market (>6 months).
What do closed sales over time look like?
We can see closed sales over time (demand). The last several years showed a downward trend, which is consistent with increasing supply and longer times to sell. Then C19 and a 1% drop in interest rates in 2020
