Spring has sprung and the first quarter of 2013 is complete. We’ve had a very busy first quarter experiencing the real estate upsurge so widely discussed, As a participant in the Sales end of the real estate market it is clear that there are increased showings, pendings and sales including multiple offers on “well priced” listings. Hesitant buyers are now becoming Purchasers. Well priced properties are attracting multiple offers making for a quick sale. Inventories have declined 14-16% over the past 12 months in Residential and Condo classes. REO (Foreclosures) and Short Sales are dwindling, with any “hidden inventory” (or overhang) backlog slowly trickling onto the market. Mortgage Interest Rates are still near historic record lows which may help motivate would-be Buyers to go ahead and buy IF they can qualify for a loan. Here’s the link to the Board of Realtors statistics report: http://www.ramaui.com/UserFiles/File/Stats/All-March2013.pdf For the next few days we will discuss the different areas of the island and how these statistics point to certain directions.
Tag Archives: #market
Global Christie’s Updates Brought To You By The Hansen Ohana
The Hansen Ohana of Maui Estates International, proud affiliate of Christie’s International Real Estate, wanted to share with you some of the exciting news and updates that are happening within Christie’s International.
Christie’s will be traveling to Russia to host the Masterpieces Exhibition April 23-26. This is a preview of the most powerful and important art to be auctioned off this Spring season in both London and New York. Within the exhibition, a section will be dedicated exclusively to real estate. Videos, brochures, and magazines will all be available onsite. This will be a rare media opportunity for our network of fine art and real estate.
With limited inventory and high buyer demand, high-net-worth-individuals pushed prices of the luxury home market to historic highs. A new study by Christies International focused on the global luxury residential market. London led the way in the Luxury Residential Market with a property sale of $121 million. New York was second with a $88 million sale. The economic concerns that drive the general housing market did not affect the top tier sales that were achieved. Christie’s is the only global real estate network owned by a fine art auction house allowing unparalleled access to high-net-worth-individuals.
The Christie’s website has global information on properties, news and press releases, as well as global market updates. We at the Hansen Ohana strive to give you all the latest news locally as well as globally. Please contact us for all of your Hawaii real estate needs!
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