March 2017 Local Market Update

The Honolulu Board of Realtors released the Local Market Update Report for March 2017. 

I have been living in the Newtown neighborhood in Aiea for about a year and a half now and have been watching the activity increase. 

Link to full report: drive.google.com/...

The report breaks down data into neighborhood regions. Newtown falls under the Pearl City and Aiea data. March shows the Median Price of Single-Family Homes is up to $751,250 and Condominiums up to $379,000. 

I ran the activity for Newtown in the past 180 days and here is the link to that: 
http://matrix.hicentralmls.com/Matrix/Public/Portal.aspx?ID=1930062725. 

March 2017 Honolulu Board of Realtors Statistics

The Honolulu Board of Realtors market statistics have been published and Single-Family Homes Median Price is at $752,000 while Condominiums is at $400,000. The median days on market is just a little more than 2 weeks for both categories. 

Send me a request for graphs or data for your specific needs. 

Palolo Small Lot Opportunity

A 2,550 square foot lot, zoned R-5, in Palolo with a small "tear down" condition house has just listed by Inspired Realty LLC. Its list price is $450,000. 

I wonder what redesigns of this lot can look like? Is 2nd level living area a possibility with parking under the living area? Could it be designed with driveways on 2 sides of the lot? If someone was looking for small footprint, efficient living, does this have the potential? 

I'm just curious because I grew up a few streets down from this area and I loved living there. It would be nice to get back into my childhood neighborhood. A nearby neighboring property of the same land square footage with a house in poor condition sold in October 2016 for $445,000 cash. 

1768A Palolo Ave, Honolulu, Hawaii 96816
MLS 201707542
Listed by: Inspired Realty LLC