Single Family Home Stats
We finished off the month with a median sales price of $794,750, which is barely off just .3% from November of last year. Sales were up 11.1% with 320 sales vs. 288 the year before. It's actually a great time for Sellers as new listing inventory is down 15.1% and pending sales are actually up 13.8%.
Condo Stats
The median price for condominiums was down slightly compared with November, 2018 from $420,000 to $415,000 this past month. Median days on market are up 18% from 22 days on the market in 2018 to 26 days on the market in 2019. Offsetting the signs of a slowing market is active listings. In November, our listings were up 10% showing that there's a lot of market activity.
Harcourts Auctions
As we've told you before, Harcourts is the only real estate company in Hawaii that does non-distressed luxury property auctions. In November, we had two live auctions in the month. There were 150 active bidders in the room in these two auctions and there was also more online bidding than ever before. Online bidding is catching on.
One notable sale was in Dana Point, CA. The start to bid price was $8 million and the sold price was almost 50% higher than the bid to start price! The property sold for $11,885,000. Auctions Work! Every market is different and every home is different. Please contact David or Dianne if you'd like to talk more about what is going on in the market today and how Harcourts Auctions can help you.