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Favorite Beach Waimea Beach on North Shore Here, there’s always something to do! From rock jumping to snorkeling in the summer, it’s always a great time! Favorite Cocktail Ube pina colada at Waterman's
“What an amazing team Jason and Sachi Mitchell have with The Mitchell Group Real Estate
The best pina colada on the island with a gorgeous ube swirl. Waterman’s has a gorgeous view of Ko Olina lagoons too.
Team Hawaii eXp Realty! Jason's quick response and Sachi's keen eye for staging helped us sell our house quickly. Trust isn't
easy to gain so quickly, but they are a trustworthy group and will work hard to get you the deal you're looking for. Thank you, Mitchell Team, for all the days
Favorite Sweet Treat Thai tea with large boba at Taste Tea in Honolulu, HI My daughter loves this tea, and we usually go to the Waikele Food Trucks for this sweet treat!
A HOUSING SNA
Favorite Museum The Shangri La Museum in Honolulu, HI
Market Report Single-family homes and condominiums saw a decrease in sales as higher borrowing costs continued to impact summer buying activity. Single-family home sales decreased by 28.2%, and condo sales experienced an 18.5% drop compared to last year. In both housing markets, properties sold in July stayed on the market for about 16 days, a slight increase from July 2022, when single-family homes typically sold in 11 days and condos took 12 days. Median sales prices remained relatively consistent year-over- year, with single-family homes seeing a minor decline of 1.6% to $1,090,000, while condos maintained their value at $500,000. About 53% of single-family home sales closed at or above the full asking price, a decrease from 65% the previous year. In the condo market, 47% of sales achieved the total asking price or more, compared to 60% in July 2022. The market also experienced a decrease in new property listings, with a year-over-year drop of 28.8% for single-family homes and 15.4% for condos. Nonetheless, the active inventory for single-family homes and condos remained stable compared to 2022, showing a modest growth of 2.6% in active listings for single-family homes and 9.9% for active condo listings.
Philanthropist Doris Duke opened up this incredible collection of Islamic Art to the public in 2002 at her personal home in Oahu. The home, the art, and the incredible views of the coastline are a must see.
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-Sachi Mitchell
The Takeaway Despite the differences from the previous year, we are seeing similar monthly trends. Increasing borrowing costs have made buyers more cautious, resulting in homes spending more time on the market. However, demand and median sales prices have remained steady due to limited inventory.
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