April 08 Condo Overview

Aloha,

Everyone always wants to know “How’s the market? Is it doing better than the mainland? Are properties selling? Do you think that it is starting to pick up?” and on and on. While I enjoy giving my professional opinion (bear in mind, we all have opinions) and / or speculating about what I think will happen next, I think a great visual explanation of the market is to pull up and print out what we in the business call a “listing update” which spans the last month, and look at it as a whole.

A listing update is nothing more than what is new on the market. Most agents search the MLS for the “daily update” and occasionally some will look to see what happenned over the last day or two. I like to pull it up for the last month, and take a look at how many units came on the market vrs. how many went into escrow, sold etc. Looking at it this way, it becomes abundantly clear as to “how the market is.”

For example, this month there were 36 new listings (assuming I can count all those little lines of print) 10 units back on the market, (although 5 of those were fractional shares so there were really only 5 back on the market) 8 that went into escrow or contingent, 4 that went under contract, 7 sales, 7 that expired (although 5 were fractional shares) 9 that were withdrawn, and too many price changes for me to count. Seeing these numbers, how do you think the market is doing?

I copied the entire monthly update into Excel and have it here april-condo-overview-5-3-08.xls for you to download and view in it’s entirety if you wish. If you decide to print it out, use the Landscape setting for your paper for optimum results. I’d say it’s a buyer’s market getting stronger every day. Great time to buy!

Aloha Elaine

Elaine Schaefer (R, GRI, ABR)
Broker in Charge – Princeville Resort Office
Graduate, Realtor’s Institute
Accredited Buyer’s Representative
Top Producer 100% Club

RE/MAX Kauai
Princeville Resort Office
POB 223632
Princeville, HI 96722
cell: 808 639 2935
home fax: 1 808 440 4552
email:soldonkauai@yahoo.com
website: www.kauairealestatenow.com
blog: www.blogs.alohaliving.com/princeville-condo-sales

……you can have your own piece of paradise
ask me how!

May 3rd, 2008