August 2009 Nauru Tower Condominium Market Report Honolulu
The sales rate at Nauru Tower continues to be slow, in line with the Oahu economy. There are many high floor apartments for sale, so if you are looking for unobstructed, breathtaking ocean views, you have many choices. Five of these apartments have been on and off the market over 200 days, indicating they may not be priced right to sell. Again, if you’re interested in purchasing here, you never know which of these apartment owners may be willing to accept an offer significantly lower than the asking price. There are two high floor 1-bedroom apartments for sale and one is leasehold, but it’s no bargain. Buyers should be mindful that financing some leasehold properties can be very difficult depending on the lender and loan program.
The chart above shows the number of sales recorded each month vs. the number of apartments available for sale at the end of each month. As you can see, the number of apartments for sale doubled in the last half of 2008, but the number has come down from the winter high. In the last six months, Nauru Tower averaged one sale every other month and if that pace continues, it will take over 13 months to sell the 9 apartments on the market.
Nauru Tower Condominium
1330 Ala Moana Blvd., Honolulu, HI 96814
Built: 1991
Features
Conveniently located across the street from the Ala Moana Beach Park and just one block from the Ala Moana Shopping Center and Ward Centers.
Availability
Apartments in the building: 302
Apartments available for sale: 9
Average days on market to date: 109
Apartments listed for sale in the last 30 days: 2
Months of inventory available: 13.5
Sales
Apartments under contract in escrow: 2
Apartments sold in the last 90 days: 1
Average days on market: 277
Sales Price / List Price: 88%
Would you like to learn more? Please visit my web site to view Nauru Tower apartments for sale or conduct your own Honolulu condo MLS search. Contact Michael Zimmerman for a no obligation consultation if you’re considering selling or buying a home or investment property.
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