In March 2023, Honolulu home prices were up 9.0% compared to last year, selling for a median price of $594,000. On average, homes in Honolulu sell after 78 days on the market compared to 56 days last year. There were 316 homes sold in March 2023, down from 467 last year.
Between January 2023 and March 2023, 40% of Honolulu homebuyers searched for homes outside of Honolulu, while 60% looked to stay within the metropolitan area. San Francisco homebuyers were the top metro who searched to move to Honolulu.
Looking at all of Hawaii, in March 2023 there were 5,062 homes for sale, down 10.6% year over year. The market remains in the seller’s court, much like the rest of the mainland.
For Homebuyers, Homeowners, Real Estate agents and conventional Mortgage Brokers, Sun Pacific Mortgage & Real Estate’s fast, alternative Private Money mortgage programs can be of great benefit to today’s real estate market in Hawaii.
This type of real estate loans can provide 10 day closes or less! There is no debt-to-income ratio requirements nor credit requirements! Financing is offering in each of the main areas of Hawaii, including: Hawaii County, Honolulu County, Kauai County, and Maui County.
If you are shopping for a second home in one of these counties or want to pull cash out of real estate for some business purpose, give us a call at 707-523-2099 or email us through our website at www.Sunpacificmortgage.com