We are in Oauhu this week – it’s gorgeous here. Having a passion for real estate means we never stop thinking about it or being curious. While walking along the path that leads around Diamond Head we sure saw some gorgeous properties….wow – what views! These are the upper end around here!
In reading the Honolulu Advertiser – the local paper – the business section reported on April 9th that the number of units sold is much lower than last year, but the median price is higher. This was also reiterated in the Island Real Estate Blog with data to back it up. This is exactly what we see happening in the South Bay cities as well. Last night at a lovely dinner at Roy’s we met a couple from Atlanta, Georgia. It just so happened that Norrine is a realtor for Jenny Pruitt Realty. She said they represent a higher end clientele and are also experiencing a slower pace of sales (fewer units sold) yet a higher and or stable average pricing.
It is interesting to see how the higher end neighborhoods are consistently the same across the country….and we are seeing three samples here from all “ends” of the country – Atlanta, South Bay of Los Angeles & Honolulu.