February 2021
Hi Friends & Neighbors!
As Valentine’s Day approaches, O'ahu home sellers have a lot to love.
In December, O'ahu’s median home sales price was up 6.1% since last year for single-family homes (SFH) and up 6.9% for condos. In December, O'ahu SFH listings averaged just 10 days on the market and condos only 16 days before being snatched up. The situation is ripe for all kinds of analogy, but I’m inclined towards the Bionic Man: today’s market is better, faster, stronger.
Despite facing stiff competition, buyers are still scrambling to submit a winning offer for a number of reasons. Chief among them is the mortgage market, where already rock-bottom rates have recently moved subterranean — the national average on a 30-year conventional loan is currently just 2.73%. Then you have the novel buyer motives we’ve seen arise in the past year: the desire for more space, for better in-home amenities, for Zoom rooms and distance-learning rooms and more.
With the real estate market in this frenzied state, it’s easy to get swept up. It might seem like you can sell your home with your eyes closed and your hands tied behind your back, and in a sense you could. But should you?
To maximize your investment — buying or selling — you need a trusted adviser who is quick on their feet, strategic and precise in pricing and negotiations, with the discerning eye of experience to guide you to great results. If now feels like the right time to make your move, we’re here to help you and anyone you send our way.
Warmly,
Mike & Lisa Styring
Hawaii Realty International
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