2014 vs. 2015
The median price for a single family home on Oahu increased 3.7% from 2014. That was a $25,000 gain.
To put things into further perspective, here is a snapshot of the median price for a single family home in the past 3 years:
When it comes to long term investing, time is one the most powerful forces on your side. On a micro level, prices are at an all-time high. However, let’s take step back.
From a bird’s eye view, you have to ask yourself, “Where is the market going in the next 10, 20, and 30 years?” Pulling statistics from the MLS, the median price for a single family home increased 341.1% from 1985 to 2015.
With mortgage rates still relatively low, maybe now is the time to enter the housing market.
Source: Honolulu Board of Realtors. HiCentral.com
Disclaimer: This is a personal blog. Ryan Oda (#RS-75450) is a licensed real estate salesperson with Benn Pacific Group, Inc (#RB-19423). The opinions expressed here represent my own and not those of Benn Pacific Group, Inc., its agents, and or its affiliates. My thoughts and opinions can change over time. This blog is intended to provide a semi-permanent snapshot of a selection of various thoughts and opinions that may not be the same, or even similar, to those I may hold today.
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