Mitchell Group Real Estate - June 2023

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“Jason and Sachi are the dynamic duo of real

Coral Crater ATVs ATV riding is always a MUST in the

estate. I have worked with the couple on three different real estate transactions, and they are, by far, the best agents I’ve had the pleasure of working with. Absolutely true professionals who were extremely knowledgeable, personable, and, most importantly, available any time I had questions.

summertime. At Coral Crater, off-roading is a blast. You’ll get dusty and muddy, but it’s worth it!

Island Hopping We love to check out some of the other islands and

explore and feel like “tourists” for the day. Our favorites are Maui and Kauai.

The most recent transaction was in the sale of my second home in Hawaii. Selling a home

remotely is already challenging, but in this difficult real estate market, Sachi and Jason were able to sell in record time at the asking price! Can’t thank them enough and definitely recommend Sachi and Jason for anyone seeking to buy or sell a home in Hawaii!”

The sunflowers at Waimanalo Country Farms are a must see!

Sunsets Make your way to House Without a Key in the Halekulani. You can sit on the patio for their Sunset

– Dennis Dagdagan “Jason and his team did a great job getting our house sold. He took charge of all the preparations prior to the listing and was informative throughout the entire sales process.”

Cocktail menu and nightly Hawaiian music and hula. The entertainment starts at 5:30 p.m., but we recommend getting there early to beat the crowds! Get the Tako poke and the mai tais! Sweet Land Farm We go to pet and feed the goats and ooohh and ahhh over the baby goats. It’s a gorgeous farm to walk around, and the goat cheese platters and ice cream are delish!

– Brian Rosenswike

SALES VOLUME OF OAHU HOMES STILL DOWN COMPARED TO 2022

Happy summer!

In May, the sales volume of homes on Oahu showed improvement compared to the previous month. Single-family homes experienced a 26% increase, while condos saw a 4.3% rise. However, compared to the same period last year, there was a decline of 23.8% in closed sales for single-family homes and 36.3% for condos. The median sales price for a single-family home in May 2023 was $1,109,000, 3.9% lower than the previous record set in May 2022 at $1,153,500. Similarly, the median sales price for condos slightly decreased by about 2.2% from $516,500 in May 2022 to $505,000 in May 2023. Despite the lower sales volume, the median prices for properties on Oahu have remained relatively stable over the past year. The lack of available homes for sale continues to drive demand as more local residents aspire to become homeowners. Single-family homes and condos took twice as long to sell compared to last year, with an average of 21 days on the market for single-family homes and 20 days for condos, compared to 10 days in 2022. In the past seven months, there has been an increase in single- family home sales that closed at the full asking price or even higher. However, this figure has changed compared to the previous year, as approximately 45% of these sales in May received the full asking price or more, compared to about 75% of sales in May 2022. The same trend applies to condos, with roughly 45% of condo sales closing at the full asking price or more, compared to 65% in May 2022.

-Sachi Mitchell

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The nightly music and hula at House Without A Key are the perfect way to enjoy the sunset.

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