With the news Hawaii's tourism is opening up again, let's see what the real estate market in Hawaii is doing.
Surely, the picture does not show the median price of the real estate.
The 1st picture above shows the median days listings are on the market, as we can see the days are getting less and less. This may signal that the market activity is going up, and that people are buying.
Here we see that the number of sales as of Oct 5th, 2020, is getting momentum and is coming up from the deep. This again shows the housing market is doing fine and may not be as bad as some have predicted due to corona virus situation.
Now let's look at the median price for condos in Hawaii..
So by looking at the graph we can see the median sale price is coming up again for condos. Many people are expecting the price of the condo to decrease by a lot due to the current economy however the data shows otherwise. Again we see the stability of Hawaii real estate in a tough time such as now.
How about single-family homes?
This graph shows the median sale price for Hawaii's single-family home is higher and higher. Here the last point in this graph is Sep 2020. The median sale price is $880,000 this breaks the previous record in the past years.
So for people who are looking to purchase, this may be a good time to consider.
