Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

May 7, 2021

OAHU REAL ESTATE STATISTICS FOR APRIL 2021

April 2021 Real Estate Sales Infographic

 

In April, the median price for a single-family home on Oahu dropped approximately 3% from last month’s record of $950,000 down to $928,000.  This median price represents a 14.7% year-over-year increase. Meanwhile, the median price for Condos pretty much held steady (year-over-year) at $450,000, which is $1,000 less than last month’s median price.

The number of closed sales in both categories (single-family & condos) increased for April as compared to sales in April of 2020. In the Single-family category, there were 375 closed sales, which was an increase of 51.2%(year-over-year) and 4% over the previous month. In the Condo/Town-home market, there were 645 closed sales, which represented an increase of 88% year-over-year and 3% over last month.

During April of this year, the Days on Market was about the same as in March. The average days on market for single-family homes was just 9 days, the same as in March, but 10 less than a year prior.  Condos/Town-homes, in a similar manner, were on the market for an average of 13 days which was only one day less than last month. We are still very much in a Seller’s Market with many listing receiving multiple offers and closing at a price above the listing price.

 

Posted in Market Updates
April 6, 2021

OAHU REAL ESTATE STATISTICS FOR MARCH 2021

Real Estate Sales Infographic

 

Oahu Housing Market Sales & Prices Continue to Rise

 

Again in March, for the third month in a row, the median price for a single-family home on Oahu set a new record!  The median price for single-family homes on Oahu was $950,000 which represents a 17.3% year-over-year increase. This was also 3.5% higher than February’s record of $917,500. Meanwhile, the median price for Condos increased by 3.7% up to $451,000.

The number of closed sales in both categories (single-family & condos) increased for March as compared to the previous year. In the Single-family category, there were 361 closed sales, which was an increase of 19.1%. In the Condo/Town-home market, there were 626 closed sales, which was an increase of 52.7% year-over-year!

During March of this year, homes did not stay on the market for any length of time. The average days on market for single-family homes was just 9 days and this was 6 days less than in the same period last year, representing a reduction of 40% in the time on market.  Condos/Town-homes, in a similar manner, were on the market for an average of 14 days which was 9 days less than last year, which equaled out a reduction of 39.1%.

 

Posted in Market Updates
March 8, 2021

OAHU REAL ESTATE STATISTICS FOR FEBRUARY 2021

Real Estate Sales Infographic

 

The Honolulu Board of Realtors has released the latest sales figures for homes on the Island of Oahu detailing the sales of Homes and Condos in February. There were 260 Single Family Homes sold, which was an increase of 5.3% over the the previous year. The sales of Condos / Townhomes increased by 41.1% over the previous year, with 446 sales.

The Median Price of Single Family homes set a new record in February, at $917,500. This was an increase of nearly 20% year over year and 3.9% higher than the previous month's record of $883,000.

We are still in a Seller's Market with many homes receiving multiple offers, many of which are above the asking price.  In the Single Family Home market, 48.5% of the sales were closed at a price higher than the original asking price. Similarly, 29.1% of Condo Sales closed above the asking price. Homes were selling quickly with the average "Days on Market" being 9 days for Single Family Homes and 18 days for Condos.

It seems the challenge facing Realtors on the island right now, is finding a home for their Buyer clients to purchase. Inventory is tight.

 

Posted in Market Updates
Feb. 24, 2021

Nimitz Elementary School

 

VIDEO TRANSCRIPTION:

 

Aloha. Larry here with Ola Properties, back with another segment of our top-rated schools on Oahu. Today we're going to talk about Admiral Chester W Nimitz Elementary School. So let's just jump right into the presentation here.

So as I say, it's the Admiral Chester W Nimitz Elementary School, more commonly known simply as Nimitz Elementary. And as you'll see from our list here, it is rated one of the top five public elementary schools on Oahu. And let's see, here's the school address at 520 Main Street in Honolulu. You can see the contact information for Ms. Marcy Kagami, the principal, as well as a link to their Facebook page. I believe this is the second school we've looked at that has a Facebook page, so you might want to check that out. The school serves grades PK through six and as of the writing of this, they had 706 students.

Looking at their academics, they have a student progress rating of 10 out of 10, and this rating measures how much students at the school have improved from one year to the next as compared to students with similar proficiency levels at other schools in the state. The students at this school are making far more academic progress, given where they were last year as compared to similar students.

Looking at test scores ratings, the overall test scores rating is eight out of 10. And these test scores show that the school is far above the state average. In English the proficiency is 73%, which does seem quite high, which is good, of course, state average being 47%. In math the proficiency is 66% where the state average is 54. So again, that's a good bit higher.

Moving on to the equity part of the ratings, we see the equity overview rating is at nine out of 10, which shows that disadvantaged students are performing better than other students in the state, though this school may still have achievement gaps.

Looking at race ethnicity, all students are 10 out of 10. White students, which are 49% of the students, are 10 out of 10 also. Black students, which are only 13%, are rated at seven out of 10. In regards to low-income students, excuse me, all students again are 10 out of 10. And the low income students, which are 29% of the students, are also 10 out of 10. Some interesting statistics.

Then we'll look at the environment of the school. Here are the student demographics. The school is 49% white with 20% being Hispanic and 13% being black. Evenly matched as far as gender goes with male and female both at 50%.

Looking at the teachers and staff, number of students per teacher is 16 to one. State average is 15 to one. Students per counselor is one student for three hundred and, one counselor per 363 students, excuse me, whereas the state average is 290 to one. And then the percentage of teachers with three or four more years' experience is at 89%, where the state average is 87%.

And here you'll see the area served by Moanalua, or by Nimitz Elementary, made a mistake on that, obviously. It's around the airport area and over around some of the golf courses and military bases.

So that's our presentation. Now here's the disclaimer. Ola Properties and the author of presentation, Larry Oldfield, we are both real estate brokers. We are not school research specialists and we relied on greatschools.org for this information. Thank you. And if you have any questions, please feel free to contact us.

Posted in Buyers, Schools Info
Feb. 10, 2021

Salt Lake Elementary School

TRANSCRIPTION:

Aloha.

Larry here with Ola Properties. Back again with another segment on our series of the top rated schools on Oahu. Today, we're going to take a look at Salt Lake Elementary School. Let's just jump right into the presentation.

Salt Lake Elementary is one of the top five public schools on Oahu, and here in the list you'll see that it's rated number four, at least in this list. School address here. They're on Ala Lilikoi Street in Honolulu. You can see the contact info for the principal, Mr. Duwayne Abe. We actually have a Facebook page listed for this one. It's the first one in our series that we've seen a Facebook page listed. This school serves grades PK-6. As of the writing of this presentation, they had 741 students.

Leading into their academics a bit. Their student progress rating is 10 of 10, which obviously doesn't get much better. Again, this rating measures how much students at this school have improved from one year to the next, when compared to students with similar proficiency levels at the other schools. The students at this school are making far more academic progress, given where they were last year, compared to those other schools. Looking at their test scores, they're ranked 8 out of 10. These test scores are above the state average, which suggests the schools the student students are performing at or above grade level. When we look at the English proficiency, that's at 64%, compared to a state average of 47%. Then looking at the math, that proficiency rating is 55%, which is slightly above the state average of 54%.

Looking into the equity of the school. The overall rating is 9 out of 10. It says that disadvantaged students are performing far better than other students in the state, though this school may still have achievement gaps. Looking at the race/ethnicity. All students is 10 out of 10, Asian students is at 10 out of 10, and you'll see that 47% percent of the students are of the Asian classifications. The Pacific Islanders at the school, which are 18% of the students, has a rating of 8 out of 10. Looking at low income students, all students again, are 10 out of 10. The low income students, which are 48% of the makeup of the student body, is at 9 out of 10.

Moving on to the environment of the school, the student demographics, you can see here on the chart that the Asian population of this school is at 40%... 47%, excuse me. And Native Hawaiian or other Pacific Islander, there again, is 18%, as stated in the previous chart. Looking at gender wise, it's 45% for females and 55% for males. Teachers and the staff, students per teacher is slightly above the school... Or the state average, excuse me, at 16:1. Students per counselor, it's a little bit high at 371 students per counselor, versus state average of 290:1. And the percent of teachers with three or more years’ experience looks really good at 94%, versus state average of 87%.

Here's the area served by the school. This is the Salt Lake area of Oahu. Near the Aloha Stadium, kind of between the H1 Freeway and H201, or the Moanalua Freeway.

Here's our disclaimer, basically stating that Ola Properties and Larry Oldfield are real estate brokers, and we are not school research specialists. We are relying on the information provided to us by greatschools.org for this information. Thank you for your time. If you have any questions, please reach out to us, and we'll be happy to answer any questions that we can.

Thank you.

Posted in Schools Info
Feb. 10, 2021

Shafter Elementary School

TRANSCRIPTION:

Larry here with Ola Properties with another segment on our top-rated schools on Oahu. Today we're going to take a look at the Major General William R Shafter Elementary School, more commonly known as Shafter Elementary.

Now we’ll go back through the list of the top elementary schools, we started out with King Liholiho Elementary, moved onto Moanalua Elementary, Shafter Elementary, this one here is the third in this series. Then we'll go to Salt Lake Elementary, followed up by Admiral Chester W Nimitz, which again is more commonly known as Nimitz Elementary School.

So the school address, it's on Fort Shafter in Honolulu, of course. You see the contact there for the principal, Mr. Corey Barton. They serve PK through 6 is the grades, and at this time they have an enrollment of 471 students.

On the academics side, let's take a look at that. The student progress rating is quite good at 10 out of 10. I guess it doesn't get much better than that. You'll see that what this rating measures is how much students at this school have improved from one year to the next, as compared to students with similar proficiency at those other schools. And as I said, the students at this school are making far more academic progress, given where they were last year.

On the test scores, this school has a rating of eight out of 10, and the test scores are above the state average. You'll see that in English, the proficiency percentage is 65% versus the state average of 47%. And in math, it's 71% versus the state average of 54%.

Let's look at the equity side of things is what they call it at greatschools.org. The equity rating is at nine out of 10, shows that disadvantaged students are performing better than other students in the state and that the school is closing the achievement gap. Looking at race/ethnicity, all students are rated 10 out of 10. White students, which are 46% of the student body or 10 out of 10, and black students, which are 13% of the student body are nine out of 10. Looking at low-income students, the ratings measure how students from low-income households improved academically over students in other schools. All students, again, are 10 out of 10 and low-income students, which are 34% of the student body, also ranked 10 out of 10.

Taking a look at the environment, the demographics you'll see here, it's predominantly white at 46% followed by Hispanic at 24%, with Native Hawaiian or other Pacific Islanders bringing up at 1%. As far as gender goes, you'll see there's 53% male students versus 47% population of females.

Teachers and the staff, students and teacher, they seem to have ratio is not quite as good at 17.1 versus the state average of 15 to one. Students per counselor is almost 500 to one versus the state average of 290 to one. But looking at the percentage teachers with three or more years' experience, that looks really good at 97% versus the state average of 87%.

And here you'll see the area served by the Moanalua Elementary, just down here near Foster Village and that area, Kalihi-Palama area, on the other side of the, on the Eastern side, I should say, of the Aloha Stadium.

And finally, here's our disclaimer, letting you know that Ola Properties and myself, Larry Oldfield, we are real estate brokers and we are relying on information which we received from greatschools.org. Thank you very much and please contact us if you have any questions.

 

Posted in Schools Info
Feb. 10, 2021

OAHU REAL ESTATE STATISTICS FOR JANUARY 2021

Infographic Showing Oahu Real Estate Sales Statistics

A new record was set for the Median Single-Family Home prices in January 2021. The new record is, $883,000. This figure was an increase of 14.7% year-over-year and was an increase of 1.5% over last month. In comparison to January of last year, the median price for condos increased 5.4% up to $452,000. However, this figure was slightly lower (-0.7%) from the record price of last month which was, $455,000.

 

A low inventory of properties for sale continued to be a problem, creating some tough competition for Buyers. Single-Family homes spent a median time of just 9 days on the market before going into escrow. Condos were on the market for twice that number of days at 18. The median number of days on market for Single-Family Homes tied the record for this statistic that was set in September 2020.

 

In addition to going into escrow in a truly short time, the majority of Single-Family Sellers received more than their asking price with 54.6% of the sales closing at over-asking. At the same time, 30% of Condo sales closed at prices that were higher than the listing price.

 

New property listings usually see a bump up in the new year, however that is not the case for this year. New listings were down by 14.7% for Single-Family Homes and 5.3% for Condos. It looks as though the Sellers’ Market will continues and Buyer’s will continue having some stiff competition.

 

 

Jan. 8, 2021

Moanalua Elementary School

VIDEO TRANSCRIPTION:

Aloha everybody,

 

We are here with Ola Properties with another segment in our ratings of Oahu schools. Today we're going to talk about Moanalua Elementary School so let's just jump into the presentation. If you've seen some of my other presentations this is the list of the top five elementary schools on Oahu and you'll notice Moanalua Elementary School, the one we're talking about today is number two in the list.

 

Here we have the school's address and the contact information. This school serves grades PK through six and the number of students is listed at 638. On the academic side, your overall student progress rating is nine out of 10 and this rating measures how much the students have improved from one year to the next compared to students with similar proficiency levels at other schools in the state. Students at this school are making far more academic progress than they were last year in comparison to other schools in the state.

 

Test scores rating, that's eight out of 10 for this school which means that they are above the state average. In English, this school has a proficiency rating of 58% whereas the state average is 47%. In math this school is at 66% whereas the state average is at 54%. on the equity side of things, the overall overview rating is 10 out of 10 which means that disadvantaged students at this school are performing better than other students in the state and that the school is successfully closing the achievement gap. On race ethnicity, this reflects how much students at this school have improved from one year to the next compared to similar students at other schools in the state. For all students it's nine out of 10, for Asian students which are 49% of the students in this school it's also nine out of 10. Looking at low income students, for all students it's nine out of 10 as before. For low income students which is 21% of them it's 10 out of 10.

 

Moving on to the environment of the school, here are the student demographics. You'll see that 49% of the population is Asian of the school. And on the gender side it's split pretty evenly at 49% female versus 51% male. Then we look at the teachers and the staff. The number of students per teacher is a little higher than the state average at 17.1 where the state average is 15.1. The number of students per counselor is at 309 to one versus 290 to one for the state average. The percentage of teachers with three or more years experience is 89% where the state average is 87%. Well, I'm guessing that means the teachers are happy there.

 

 

Here's the area which Moanalua Elementary serves. You'll see this is in Moanalua Valley here. You'll see Pearl Harbor off to the left there and the Aloha stadium. That's the area served by this school. And finally, our disclaimer. The Information here was taken off the website greatschools.org on December 30th, 2020. And so, we will say that this presentation and the information contained in it was correct at that time according to greatschools.org. As always I thank you and if you have any questions please feel free to contact us via our website. Thank you.

Jan. 6, 2021

OAHU REAL ESTATE STATISTICS FOR DECEMBER 2020

Infographic showing Oahu Real Estate Statistics for Dec 2020

 

Although December is typically a slower month for Real Estate sales on Oahu, this past December saw some slight increases in activity. The public’s optimism about reopening Hawaii in the face of the pandemic, combined with historically low mortgage rates seemed to propel the market allowing it to surpass sales as compared to December 2019. 

The Real Estate market on Oahu saw a spike in sales and new listings in December. Sales of single-family homes were up by almost 36% and sales of condos were up by a little over 20% compared to December of 2019. New listings of homes increased by 15.3% for single-family homes and by 3.6% for condos, again compared to December of 2019. Even with these increases it seemed there was not inventory of homes for sale to satisfy the number of Buyers looking for homes. 

The median sales price for single-family homes was up by 6.1% on single-family homes and by 6.9% for condos.  The median price in December for single-family homes was $870,000 and the median for condos came in at $455,000 on Oahu.

Dec. 30, 2020

King Liholiho Elementary School

VIDEO TRASCRIPTION:

This is Larry with Ola Properties here with another segment of our discussion of public schools on the Island of Oahu, County of Honolulu. Today we're going to talk about the King Liholiho Elementary School, which was one of the top five schools in the County. Here's the list of the five elementary schools, top five. You can see King Liholiho on the top of the list there. So we'll continue on. The school is located on Moanalua Avenue. There's contact information for them. And as you can see they serve grade PK-five. And as of the writing of this presentation, which was mid-December of 2020, they had 467 students.

 

So we'll take a look at their academics. They have a really good Student Progress rating which is 10 out of 10. And as you can see that measures how much the students have improved from one year to the next in comparison with proficiency levels at other schools in the state. And the part that I've bolded is if the students at this school are making really good academic progress. Let’s take a look at their test scores. The test scores, again I've bolded the part says far above the state average. In English you see their proficiency is at 78% where the state average is 54%. And then of course you can read math is 76% percent proficient whereas the state average is 50%.

 

Another test that they look at or another thing they look at is the equity in the school. Equity rating here is 10 out of 10, which I guess doesn't get much better. And it indicates that disadvantaged students at this school are performing better than other students in the state, and the school is successfully closing the achievement gap. So I guess it looks at race and ethnicity and at low income students. And moving on to the environment, here the student demographics you can see from the chart that 43% are Asian, 10% are Native Hawaiian or other Pacific Islander. You can see that the gender ratios are pretty even I would think, 48 to 52%, and 34% of their students are from low-income families.

 

When we look at the teachers and staff, I would think this would be a pretty important statistic to look at. And they are pretty close to the state average. Students per teacher at 15 to one, which is right on the average. Students per counselor are 288 per one, which is real close again to the state average. And there're again number of teachers with three or more years experiences right again at the state average. And then I wanted to show you the area that is served by this school. If you're familiar with Oahu this is Kaimuki area on the East side of Honolulu near Diamond Head as you can see. And that's the area that is served by the school, over in the Kaimuki area. So I hope that helps you with any questions you may have. And as always if you have more questions or would like more information just reach out to us through website. Thank you.

Posted in Buyers, Schools Info