Honolulu Real Estate and Community News Courtesy of Michael Zimmerman (RA) » Capitol Place http://blog.michael-zimmerman.com Realtor Michael Zimmerman's Blog designed to keep Honolulu condominium home owners informed Wed, 08 Sep 2010 20:49:00 +0000 en hourly 1 http://wordpress.org/?v=3.0.1 January 2010 Honolulu Condominium Market Report – Capitol Place http://blog.michael-zimmerman.com/2010/01/04/january-2010-honolulu-condominium-market-report-capitol-place/ http://blog.michael-zimmerman.com/2010/01/04/january-2010-honolulu-condominium-market-report-capitol-place/#comments Mon, 04 Jan 2010 10:04:23 +0000 Michael Zimmerman http://zimmerman.realty-buzz.com/?p=2259

Summary
Take a look at the chart below.  The Capitol Place market has undergone a dramatic shift in the last nine months.  The inventory of apartments for sale is down 72% and look at those sales…red hot.  This leaves little for buyers to choose from.  One bedroom apartments have been a popular choice this year, but as I write, none are for sale.  The small inventory and lack of choice may set the stage for stronger prices in the coming year.  However, that may not come to pass if the economy continues to worsen or if the market is flooded by several owners trying to sell at the same time.

Capitol Place Apartments Listed vs. Sold Graph

The chart above shows the number of sales recorded each month vs. the number of apartments available for sale at the end of the month.  The number of apartments for sale steadily declined during the year to the point where buyer’s choices are quite limited.  In the last six months, Capitol Place averaged over 3.5 sales each month.  At that pace, it will take just two months to sell the seven apartments still available for sale. 

Capitol Place Condominium
1200 Queen Emma Street, Honolulu, HI 96813
Built: 2008

Schools
Elementary:  Royal
Middle:  Central
High:  McKinley 

Availability
Apartments in the building:  394
Apartments available for sale:  7
Average days on market to date:  108
Apartments listed for sale in the last 30 days:  0
Months of inventory available:  2.0 

Sales
Apartments under contract in escrow:  2
Apartments sold in the last 90 days:  11
Average days on market:  115
Sales Price / List Price:  97% 

What else would you like to know about Capitol Place?  Please visit my web site to view Honolulu condos for sale or request free reports for buyers or sellers.  If you’re thinking of selling your home, contact Michael Zimmerman for a no obligation consultation.


Contributed by Michael Zimmerman
Direct:  808-457-9683
Michael@Michael-Zimmerman.com
www.Michael-Zimmerman.com
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