March 2010 Honolulu Condominium Market Report – Moana Pacific

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.