Good morning Rosemary, I hope your holiday is a relaxing one. Each neighborhood and home is unique and therefore should be marketed via a tailored marketing plan that best fits your home, should you decide to sell it.
To briefly answer your question, in general, Oahu overall has shown a steady incremental move upwards in the number of sales over each month this past year, with home inventory levels decreasing. (I believe there was thorough example of these numbers in a previous response to your question). We are also seeing homes in specific neighborhoods at various price levels actually leveling off or increasing. When priced correctly some homes have garnered multiple offers, sometimes at or over list price within the first 3 weeks of listing the home. For example, I had a client compete against 15 offers for a particular property. It is not uncommon for buyer's to now have to compete against several offers.
Helping to drive this frenzy, I believe is due in part to the government incentives, like the $8,000 tax credit for First Time Home Buyers. (Speaking of which, the deadline has been extended to purchase or be in escrow by April 30, 2010 and can be used by individuals who already have homes, up to $6,500)
The statistical trend and basic economics of increased sales and decreased inventory could point or signal towards a transitional market from a Buyer's Market to a Seller's Market. Are we there yet? Is it a good time to sell for you? Maybe. Your particular situation and each home/neighborhood is unique and a thorough consultation and market analysis of comparable recent solds in your specific neighborhood should be performed by your realtor of choice. I hope this helps. Happy Holidays!
Our offices our offering free various seminars that are very informative and not to mention offer pretty good pupu's. Topic's include, First Time Home Buyer (Tax Credit), 1031 exchanges and more. If you would like to attend one feel free to contact me to RSVP a seat.
Geoffrey Guzman (RA) GRI, ePro