Aloha,

As our summer comes to an end we have seen a relatively stable real estate market compared to other markets on the mainland. Since January of 2008 we have seen a significant slow down in unit sales but our median sales price for both single family homes and condominiums has remained relatively stable. If you’re in the market to buy or sell a property, partnering with a Coldwell Banker Pacific Properties real estate professional ensures you have the best resources available to make real estate decisions that fit your home and financial goals. They have extensive market knowledge, strong negotiation & pricing skills, proven marketing programs and offer a network of 500 professionals working together with you to realize your real estate dreams.

At Coldwell Banker Pacific Properties our sales professionals have a wealth of information available to share with you about the market and specific neighborhoods that you may be interested in. Our goal is to help you make smart decisions and achieve your real estate dreams. In the meantime, we are pleased to share a snapshot of the Oahu real estate market, as of August 31, 2008

The median price for an existing single-family home fell 2.3 percent to $635,000 last month, from August 2007's median price of $650,000. The number of single-family home sales fell 33.1% last month to 255, from 381 in August 2007. The condominium market continued to hold its value during the month. The median price for a single-family condo increased 0.9 percent to $328,000 from August 2007's $325,000. Much like single family homes the number of condo sales fell sharply in August, dropping 30.3% to 345, from the year-earlier's 495.

As of August 31st the median time homes spent on the market before selling was 46 days for single-family homes and 48 days for condos. That compared with 44 and 38 days, respectively, a year ago.

Inventory, was up only modestly last month to 2,119 for single-family homes from 2,087 just last month. Condo inventory dropped this month to 2,743 from 2,753 in July 2008. Both single family homes and condominium inventories have increased from this same time period last year.

At Coldwell Banker Pacific Properties our mission is to provide you with a real estate experience that surpasses your expectations. We are Oahu's #1 Real Estate Company and our team of experienced sales associates will deliver the results you're looking for.

For more information, visit coldwellbankerpacific.com