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In Hawaii, there is currently a strong seller’s market for homes valued at less than $1 million dollars. The amount of inventory for homes valued at less than $1 million is very low, and that’s why we’re seeing a seller’s market taking shape. In the luxury markets, there aren’t as many homes available, so that is creating a buyer’s market.
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Interest rates are hovering around 3.5%
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Below the million-dollar mark, homes are selling quickly, which is creating a very competitive market for home buyers. While buyers will be fighting an uphill battle to buy a home, interest rates are still extremely low, so buying power is very high. Interest rates are hovering below 3.5%, and that’s why we’re seeing a large number of people trying to buy homes right now.
If you’re a home seller below the million-dollar mark, it’s a great time to be in the market. You can probably expect a high sale price with offers from multiple different buyers. We recommend you put your home up for sale quickly so you can capitalize on current market conditions.
If you have any further questions about the real estate market in Hawaii, please don’t hesitate to contact us. We look forward to continuing this conversation with you!
