Summary
Just look at the robust sales recorded in the chart below! As you’d expect, things were a little slow over the holidays (those sales typically record in February of the following year). In previous reports, I wrote that it was difficult for some buyers to finance their Moana Pacific purchase and that most sales were for cash. I’m glad to write that 5 of the last 7 sales were made with financing. This provides sellers with greater prospects of selling their home. If you’re looking for a 1-bedroom here, there’s not much to choose from since four 1-bedroom apartments were sold in the last 90 days.
The chart above depicts the number of sales recorded each month vs. the number of apartments available for sale at the end of each month. In the last six months, Moana Pacific averaged 2.5 sales per month and if that pace continues, it will take 6 months to sell the 15 apartments currently available.
1288-1296 Kapiolani Blvd., Honolulu, HI 96814
Built: 2007
Elementary School: Kaahumanu
Middle School: Washington
High School: McKinley
Location
Conveniently located a few blocks from the Ala Moana Shopping Center and the Nordstrom store located on Kapiolani Blvd.
Feature
Co-located with the Honolulu Design Center, Stage Restaurant and Amuse Wine Bar.
Availability
Apartments in the building: 720
Apartments available for sale: 15
Average days on market to date: 83
Apartments listed for sale in the last 30 days: 3
Months of inventory available: 5.6
Sales
Apartments under contract in escrow: 4
Apartments sold in the last 90 days: 8
Average days on market: 66
Average price per square foot: $564.94
Sales Price / List Price: 96%
Contributed by Michael Zimmerman
Direct: 808-457-9683
Michael@Michael-Zimmerman.com
www.Michael-Zimmerman.com
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