Summary
I am very excited by what I see in the chart below. The number of apartments offered for sale is just half of what it was six months ago and despite a weak economy, sales have picked up dramatically. The number of months of inventory determines whether we are experiencing a buyer’s or seller’s market. If the inventory is six months or less, it’s a seller’s market and we are very close to reaching that point (6.5 months of inventory as I write). This is the lowest number of Hokua apartments for sale I’ve seen since I began writing posts dating back to March 2008.
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. The building experienced a four month dry spell in the spring/summer months where no apartments sold, but sales have turned around in a big way! In the last six months, Hokua averaged five sales every three months. If that pace continues, it will take 6.5 months to sell the 12 apartments available. Specific sales statistics are listed below.
Hokua at 1288 Ala Moana Condominium
1288 Ala Moana Blvd., Honolulu, HI 96814
Built: 2006
Schools
Elementary School: Kaahumanu
Middle School: Central
High School: McKinley
Location
Conveniently located one block from Ward Centers and just a few blocks from the Ala Moana Shopping Center and Nordstrom located on Kapiolani Blvd.
Features
P.F. Chang’s China Bistro and the Tango Contemporary Café are located on the bottom floor.
Availability
Apartments in the building: 246
Apartments available for sale: 12
Average days on market to date: 85
Apartments listed for sale in the last 30 days: 3
Months of inventory available: 6.5
Sales
Apartments under contract in escrow: 2
Apartments sold in the last 90 days: 10
Average days on market: 156
Sales Price / List Price: 90%
Are you interested in learning more about Hokua at 1288 Ala Moana? If so, contact Michael Zimmerman for a no obligation consultation. Please visit my web site to view Hokua apartments for sale, order special reports for buyers and sellers or conduct your own Honolulu condo search.
