The sales pace at Nauru Tower has slowed in conjunction with the overall economy. The number of apartments for sale is at its highest point in a year, so there is a nice mix of apartments to choose from. Two of these apartments have been on the market over 300 days; neither is priced to sell. When I wrote my last Nauru Tower market report in October 2008, there were no 1-bedroom apartments for sale. Now, five are available and one of those is a high floor leasehold unit (it is no bargain).
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 varied quite a bit over the past year, but has doubled since mid 2008. In the last six months, Nauru Tower averaged under one sale per month and if that pace continues, it will take more than 16 months to sell the 14 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: 14
Average days on market to date: 114
Apartments listed for sale in the last 30 days: 3
Months of inventory available: 16.8
Sales
Apartments under contract in escrow: 2
Apartments sold in the last 90 days: 1
Average days on market: 96
Sales Price / List Price: 91%
Would you like to learn more? Please visit my web site to view Nauru Tower apartments for sale or conduct your own Honolulu home MLS search. Contact Michael Zimmerman for a no obligation consultation if you’re considering selling or buying a home or investment property.
