Categorized | Residential

Hawaiian Real Estate Market Experiences Growth

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The Hawaiian housing market is starting to see encouraging signs of growth. More potential homebuyers are out looking for homes this year than in previous years. While the market certainly isn’t in the middle of a major boom, it has increased over the past few months. The increases indicate that the market may finally be starting its recovery.

Prices have increased in the state, and with the rise in prices, more interested buyers have come out of the woodwork. Realtors say that there were more closings and showings in the first ninety days of this year than there have been in the last five years.

Condo sales have risen, and single-family homes have shown a gradual increase. The average price for luxury homes has risen to more than six hundred and sixty-four thousand dollars. That dollar figure is the highest the state has seen since its previous peak in June of 2007.

The improving housing market in Hawaii has led to increases in other industries in the state. Retail home improvement and décor stores have experienced improved sales. With increases in sales, there have also been more jobs being created.

Many experts believe that the market will continue its ascent throughout the summer, which is a great sign for those living in Hawaii. The residential real estate market’s success will continue to positively influence the state’s economy as a whole.

While some states are still struggling with homes being listed for months with a a sale, Hawaii has not had that issue for quite some time. In fact, the majority of homes sell within one month of being listed on the market.

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About James Pattric

James writes for the Residential category (along with Josh Johnson) and also heads up the Resources category.

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